Corus Q3

Consolidated Results from Operations

Consolidated revenues for the three months ended August 31, 2013 were $193.6 million, down 1% from $195.6 million

last year. Consolidated segment profit was $54.4 million, down 11% from $60.9 million last year as Corporate costs

were up $5.1 million due primarily to achievement of performance incentives and higher share‐based compensation.

Net income attributable to shareholders for the quarter was $11.9 million ($0.14 per share basic and diluted), down 49%

compared to $23.3 million ($0.28 per share basic and diluted) last year. Net income attributable to shareholders for the

fourth quarter includes an impairment charge related to broadcast license impairments of $5.7 million, business

acquisition, integration and restructuring costs of $5.2 million and investment impairment charges of $7.1 million.

Removing the impact of these items results in adjusted basic earnings per share attributable to shareholders of $0.31

per share in the quarter. Net income attributable to shareholders for the fourth quarter of the prior year includes a

charge due to an income tax rate change of $6.8 million and business acquisition, integration and restructuring costs of

$1.8 million. Removing the impact of these items results in an adjusted basic earnings per share attributable to

shareholders of $0.38 per share in the prior quarter.

Consolidated revenues for the year ended August 31, 2013 were $803.5 million, down 5% from $842.3 million last year.

Consolidated segment profit was $270.0 million, down 7% from $290.0 million last year. Net income attributable to

shareholders for the year was $159.9 million ($1.91 per share basic and $1.90 per share diluted), up 8% compared to

$148.7 million ($1.79 per share basic and $1.78 per share diluted) last year. Net income attributable to shareholders for

the current fiscal year includes a charge for debt refinancing of $25.0 million, the gain related to...