Score Media, the national specialty TV sports broadcaster that’s rumoured to be searching for a buyer, slipped to a fourth-quarter loss of $316,000 as it took a charge for future income tax expenses.
The company said Thursday that the results were equal to nil per share, down from a profit of $1.1 million, or a penny per share.
Last year, profits were bolstered by a tax recovery of about $1 million that Score didn’t get this year, while the latest quarter also included a future income tax expense of $354,000.
Revenue grew to $11.6 million from $10.5 million.
Last month, a Globe and Mail report said that Score was shopping itself around for as much as $200 million, citing “people familiar with the matter.”
The Score runs third place among rival Canadian sports channels TSN and Rogers Sportsnet.
The channel provides sports news, information, highlights and live event programming to more than 6.8 million homes across Canada, broadcasting popular sports brands such as WWE Wrestling and NBA basketball.
The company has expressed hopes of selling its operations numerous times in the past, but a buyer has never materialized.
For the full year, Score Media posted a profit of $1.5 million, down from $2.5 million in the previous year ended Aug. 31, 2010. Revenue increased to $47.7 million from $43.8 million.
Score Television “had its strongest year ever and our digital platforms have experienced explosive growth with ScoreMobile now ranking as one of the top three sports apps in North America,” said chairman and CEO John Levy in a release.
Score Media also operates a series of mobile applications that provide users with sports score data and other figures.
