Crown Media Holdings Q1 Profit Increases

(RTTNews) - Crown Media Holdings Inc. (CRWN) said that net income to common shareholders for the first-quarter ended March 31, 2013 totaled $14.5 million or $0.04 per share, up from $12.0 million or $0.03 per share in the first quarter of 2014.

Quarterly revenue was $90.7 million, a 6% increase from $85.6 million in the first quarter of 2013. Advertising revenue increased 6% to $69.4 million from $65.2 million in the first calendar quarter of 2013. The increase in advertising revenue is due to audience growth for Hallmark Movie Channel and rate increases on both channels, offset, in part, by decreases in ratings in our key demographics on Hallmark Channel. Subscriber fee revenue increased 4% to $21.0 million from $20.1 million in the first quarter of 2013 due to contractual rate increases.