Quarterly revenue rose for a third consecutive quarter for Vancouver-based Glacier Media Inc. (TSX:GVC).
Revenue for the third quarter ending September 30, 2010, rose 8% to $54.9 million, up from $50.8 million in the same period in 2009. It is the third consecutive quarterly increase after a 5.7% revenue increase in the second quarter of 2010, and a 4.9% increase in the first quarter.
Glacier said the majority of the company’s businesses were experiencing organic growth with the remainder of year-over-year growth coming from several small acquisitions and related consolidation.
New revenues have been generated in a number of areas, including special publishing initiatives, special features, supplements, new community magazines, production and promotion of community events, custom publishing, sponsored industry-specific research studies, new directories and other new revenue initiatives.
Glacier Media owns 22 B.C. community newspapers in addition to the newspapers published by the Business in Vancouver Media Group, including Business in Vancouver, the Employment Paper and Western Investor. Glacier also owns papers in Alberta, Saskatchewan, Manitoba, Ontario and Quebec.
In July, Glacier sold 11 publications to Victoria’s Black Press. (See “Black Press acquires 11 Glacier Media publications; shutters five” – BIV Business Today, July 6).
Glacier’s share price range during the past week: between $2.28 and $2.34; 52-week high: $2.87; 52-week low: $1.78.