Crown Media Q2 Profit Declines

(RTTNews) - Crown Media Holdings, Inc. (CRWN) Friday reported second-quarter net income of $15.96 million or $0.04 per share, down from $16.52 million or $0.05 per share in the prior year.

The operator of pay television networks posted revenues of $97.35 million, up 9% from $89.48 million a year ago. Advertising revenue increased 10% to $75.8 million.

For the second quarter of 2014, cost of services increased 15% to $41.7 million from $36.2 million in the same quarter of 2013. Programming costs climbed 16% due to amortization of costs related to original series Signed, Sealed, Delivered, the company said.