Newspaper publisher Glacier Media (TSX:GVC) saw its revenue climb 6.2% to $61 million in the first quarter due to growth in both print and digital media platforms.
Glacier, which is Business in Vancouver’s parent company, also saw its cash flow from operations increase 14.1% to $9.9 million the first quarter of 2011 compared with the same period the year before.
The company said new revenue was generated in a variety of areas including online, mobile, tablet, electronic product and special publishing initiatives.
Glacier said revenue growth was also strong in a variety of trade information and business and professional information operations.
“These operations provide essential information for business and industry people who need this content and advertising-based information to make prudent decisions,” Glacier said.
“The growth was driven by the general economic recovery, strength in the various sectors Glacier has operations in, as well as effective operational sales efforts.”
The company said digital revenue now represents 25% of its trade information and business and professional information revenue. Still, Glacier saw its net income drop 18% to $2.7 million in the first quarter.
The company’s shares were valued at $2.29 at press time.
Joel McKay