78.7 F
San Fernando
Sunday, Jul 21, 2024

Crown Media Posts Profit for Q4

A strong schedule of holiday programming contributed to Hallmark Channel parent company Crown Media Holding Co. reporting a profit for the fourth quarter. With viewers looking for predictability in unpredictable times, Hallmark offers uplifting programming they want and need, said Henry Schleiff, President and CEO of Studio City-based Crown Media. “I am confident that our unique appeal and sound operating structure will help us navigate successfully through the uncertain times ahead,” Schleiff said. For the quarter ending Dec. 31, Crown reported a net income of $1.3 million, or $0.01 per diluted share, on revenues of $75.2 million. For the same period in 2007, the company had a net loss of $37.3 million, or $0.37 per diluted share, on revenues of $69.6 million. For the full year, the company had a net loss of $37.2 million, or $0.36 per diluted share, on revenues of $281.8 million. For the previous fiscal year, the company had a net loss of $159 million, or $1.52 per diluted share, on revenues of $234.4 million. The Hallmark Movie Channel reached 14 million homes at the end of 2008, a figure expected to grow by 11 million during the year due to launches on new systems across all of the channel’s major distributors throughout the country, as well as growth on existing systems. Mark R. Madler

Featured Articles

Related Articles