Astral Media Q1 profit beats analyst estimates but revenue growth falls short

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MONTREAL - Astral Media Inc. (TSX:ACM.A) says its first-quarter profit was $59.6 million or $1.05 per share, beating analyst estimates.

The Montreal-based television, radio and billboard company says its revenue for the three months ended Nov. 30 rose to $274.5 million.

That was about $3 million below analyst estimates calling for $277.2 million of revenue and $1.01 per share of net income.

Even still, Astral's revenue and profit were above the comparable period in 2011, when revenue was $271.1 million and profit was $55.8 million or $1 per share.

The company operates 25 specialty cable television channels, 84 radio stations and outdoor advertising businesses.

Its board has a friendly deal with BCE Inc. (TSX:BCE), which is seeking regulatory approval to buy Astral for about $3.38 billion.

Organizations: TSX, Astral Media Inc., BCE Inc.

Geographic location: MONTREAL

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