CANADA: Seagram Announces Record Fourth Quarter Earnings And Results For Fiscal Year 2000

The Seagram Company Ltd. (NYSE: VO) reported today that earnings before interest, taxes, depreciation and amortization (EBITDA) increased 70 percent to $441 million on revenues of $3.7 billion in the Company's fiscal fourth quarter ended June 30, 2000. The increase in EBITDA results reflected improvement in all business units. Revenues for all business units rose 5 percent.For the fourth quarter, the Company reported operating income of $116 million, compared with an operating loss of $47 million last year.The Company reported a net loss of $128 million or $0.29 per basic share, compared with a net loss in the prior year of $129 million or $0.32 per basic share, excluding an additional gain on the 1998 USA Networks, Inc. transactions. Including this gain, the Company posted a net loss of $53 million or $0.13 per share last year.