Small Markets - British Columbia and Territories

Canadian Radio-television and Telecommunications Commission

Small Markets - British Columbia and Territories - FM

Financial Summary - Radio

	2004	2005		2006		2007		2008		CAGR (%)
($) Reporting Units	41	44		51		52		53		5 yr
Revenue			Var %		Var %		Var %		Var %
Local Time Sales	32,086,056	36,530,127	13.85	41,584,410	13.84	44,772,415	7.67	48,759,440	8.91	11.0
National Time Sales	9,410,060	11,391,422	21.06	11,432,585	0.36	13,173,804	15.23	14,995,698	13.83	12.4
Network Payments								0		n/a
Syndication-Production	326,336	418,462	28.23	354,101	-15.38	134,831	-61.92	165,176	22.51	-15.7
Other Revenue	185,386	705,053	280.32	362,799	-48.54	567,501	56.42	704,383	24.12
Total Revenue	42,007,838	49,045,064	16.75	53,733,895	9.56	58,648,551	9.15	64,624,697	10.19	11.4
Expenses
Program	11,459,358	12,470,346	8.82	14,002,953	12.29	15,032,631	7.35	15,191,240	1.06	7.3
Technical	1,732,865	1,703,227	-1.71	2,083,064	22.30	2,250,284	8.03	2,637,101	17.19	11.1
Sales and Promotion	12,042,617	13,203,724	9.64	14,783,604	11.97	16,708,685	13.02	17,814,688	6.62	10.3
Administration and General	12,159,763	12,689,923	4.36	13,893,258	9.48	15,162,204	9.13	15,369,115	1.36	6.0
Total Expenses	37,394,603	40,067,220	7.15	44,762,879	11.72	49,153,804	9.81	51,012,144	3.78	8.1
Operating Income	4,613,235	8,977,844		8,971,016		9,494,747		13,612,553
Depreciation	1,581,874	1,819,333	15.01	1,944,579	6.88	2,268,134	16.64	1,540,096	-32.10	-0.7
P.B.I.T.	3,031,361	7,158,511		7,026,437		7,226,613		12,072,457
Interest Expense	1,228,954	1,137,159	-7.47	1,650,516	45.14	1,258,707	-23.74	1,053,603	-16.29
Adjustments	126,763	-283,669	-323.78	248,360	-187.55	518,520	108.78	-978,717	-288.75
Pre-tax Profit	1,929,170	5,737,683		5,624,281		6,486,426		10,040,137
Programming (%)
Prog Expense/ Expense Total	30.6	31.1		31.3		30.6		29.8
Prog Expense/ Revenue Total	27.3	25.4		26.1		25.6		23.5
Staff
Total Salaries	21,644,094	23,274,289	7.53	25,483,735	9.49	28,155,998	10.49	28,656,185	1.78	7.3
Avg Staff Count	488.26	497.97	1.99	571.13	14.69	593.22	3.87	545.04	-8.12
Avg Salary ($)	44,329	46,738	5.44	44,620	-4.53	47,463	6.37	52,576	10.77	4.4
Salaries/Expense Total (%)	57.9	58.1		56.9		57.3		56.2
Profitability (%)
Operating Margin	11.0	18.3		16.7		16.2		21.1
P.B.I.T. Margin	7.2	14.6		13.1		12.3		18.7
Pre-tax Margin	4.6	11.7		10.5		11.1		15.5
CAGR = Compound Annual Growth Rate

2004

2005

2006

2007

2008

CAGR (%)

($) Reporting Units

5 yr

Revenue

Var %

Local Time Sales

32,086,056

36,530,127

13.85

41,584,410

13.84

44,772,415

7.67

48,759,440

8.91

11.0

National Time Sales

9,410,060

11,391,422

21.06

11,432,585

0.36

13,173,804

15.23

14,995,698

13.83

12.4

Network Payments

n/a

Syndication-Production

326,336

418,462

28.23

354,101

-15.38

134,831

-61.92

165,176

22.51

-15.7

Other Revenue

185,386

705,053

280.32

362,799

-48.54

567,501

56.42

704,383

24.12

Total Revenue

42,007,838

49,045,064

16.75

53,733,895

9.56

58,648,551

9.15

64,624,697

10.19

11.4

Expenses

Program

11,459,358

12,470,346

8.82

14,002,953

12.29

15,032,631

7.35

15,191,240

1.06

7.3

Technical

1,732,865

1,703,227

-1.71

2,083,064

22.30

2,250,284

8.03

2,637,101

17.19

11.1

Sales and Promotion

12,042,617

13,203,724

9.64

14,783,604

11.97

16,708,685

13.02

17,814,688

6.62

10.3

Administration and General

12,159,763

12,689,923

4.36

13,893,258

9.48

15,162,204

9.13

15,369,115

1.36

6.0

Total Expenses

37,394,603

40,067,220

7.15

44,762,879

11.72

49,153,804

9.81

51,012,144

3.78

8.1

Operating Income

4,613,235

8,977,844

8,971,016

9,494,747

13,612,553

Depreciation

1,581,874

1,819,333

15.01

1,944,579

6.88

2,268,134

16.64

1,540,096

-32.10

-0.7

P.B.I.T.

3,031,361

7,158,511

7,026,437

7,226,613

12,072,457

Interest Expense

1,228,954

1,137,159

-7.47

1,650,516

45.14

1,258,707

-23.74

1,053,603

-16.29

Adjustments

126,763

-283,669

-323.78

248,360

-187.55

518,520

108.78

-978,717

-288.75

Pre-tax Profit

1,929,170

5,737,683

5,624,281

6,486,426

10,040,137

Programming (%)

Prog Expense/
Expense Total

30.6

31.1

31.3

30.6

29.8

Prog Expense/
Revenue Total

27.3

25.4

26.1

25.6

23.5

Staff

Total Salaries

21,644,094

23,274,289

7.53

25,483,735

9.49

28,155,998

10.49

28,656,185

1.78

7.3

Avg Staff Count

488.26

497.97

1.99

571.13

14.69

593.22

3.87

545.04

-8.12

Avg Salary ($)

44,329

46,738

5.44

44,620

-4.53

47,463

6.37

52,576

10.77

4.4

Salaries/Expense Total (%)

57.9

58.1

56.9

57.3

56.2

Profitability (%)

Operating Margin

11.0

18.3

16.7

16.2

21.1

P.B.I.T. Margin

7.2

14.6

13.1

12.3

18.7

Pre-tax Margin

4.6

11.7

10.5

11.1

15.5

CAGR = Compound Annual Growth Rate

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Small Markets - British Columbia and Territories - FM

Financial Summary - Radio