11/14/2017 03:04 EST | Updated 11/14/2017 03:20 EST

DHX reports $8.1M Q1 profit, revenue up on Peanuts and Strawberry Shortcake

HALIFAX — DHX Media Ltd. earned $8.1 million in its latest quarter as its revenue was boosted by its acquisition of the Peanuts and Strawberry Shortcake characters earlier this year.

The company says the profit amounted to six cents per share compared with a profit of $1.4 million or a penny per share a year ago.

Revenue in what was the first quarter of the company's 2018 financial year grew to $98.6 million compared with $53.8 million in the same quarter last year.

DHX added Peanuts and Strawberry Shortcake earlier this year to its library of brands which already included Teletubbies, Inspector Gadget and Degrassi.

The company says it is on track to realize its target of $11 million in total annualized acquisition-related synergies and cost reductions by the end of its 2019 financial year.

Last month, DHX (TSX:DHX.B) launched a review of strategic alternatives, including the possible sale of the company.