FPLP's income for the three months ended December 31, 2015 was $23.1 million, a lower of $three.1 million or 11.7% from the same three months in the prior yr. Print advertising revenues for the three months ended December 31, 2015 have been $14.5 million, a 14.1% lessen in comparison to the identical quarter ultimate yr. FPLP's biggest print advertising earnings category, display promoting together with color, become $eight.8 million, a reduce of $1.6 million or 15.four% from the same length within the prior 12 months, essentially as a result of diminished spending in the department save, telecommunications, car and countrywide retail categories. classified advertising revenues for the fourth quarter lowered via $0.3 million or sixteen.0% in comparison to the same duration remaining 12 months, basically due to a lessen within the true property, employment and obituary categories. Flyer distribution revenues for the fourth quarter had been $0.4 million or 10.2% lessen than the same length closing yr, primarily because of a lower in flyer volumes on account of target shops exiting from the market and consolidation of countrywide retail groups.
Print circulation revenues for the fourth quarter had been well-nigh unchanged in comparison to 2014 with subscriber cost increases offsetting lower unit revenue. business printing revenues for the quarter have been lower through $0.2 million or 12.8%, basically as a result of the loss of two important industrial print jobs at the Winnipeg Free Press. Digital revenues for the fourth quarter reduced via $0.three million or 24.four% in comparison to the equal period closing 12 months, basically as a result of a lessen in online internet advertisements in conjunction with lower cell app revenues.
operating fees for the three months ended December 31, 2015 had been $19.9 million, a $1.three million or 5.9% reduce from the equal quarter final yr. employee compensation prices, except for restructuring expenses, for the fourth quarter diminished with the aid of $0.5 million or 5.6%, essentially because of the voluntary and non-voluntary savings of personnel throughout all our enterprise gadgets. Restructuring charges of $0.3 million were incurred within the fourth quarter of 2015 relating to worker severance payments. Compensation rate was additionally larger as a result of a rise in the described advantage pension price due basically to a reduce bargain fee utilized in opting for the fee for accounting purposes. Newsprint cost for FPLP's own publications for the quarter lowered by means of $0.three million, basically because of fewer circulation copies printed and a lessen newsprint price. beginning charges diminished via $0.three million or 8.0% primarily because of reduce circulation gadgets and flyer volumes.
due to continued declines in earnings and earnings, FPLP recorded an impairment cost concerning its goodwill of $16.0 million. apart from the impairment charge, FPLP's internet income had been $2.9 million for the three months ended December 31, 2015, in comparison to $4.6 million for a similar length closing year.
EBITDA(1), excluding the goodwill impairment can charge, for the three months ended December 31, 2015 become $four.3 million, a lower of $1.8 million or 30.1% from the equal duration closing 12 months. EBITDA(1), with the exception of restructuring fees and the goodwill impairment charge, reduced with the aid of $1.7 million or 26.9% versus the identical quarter final yr. EBITDA(1) margin, except the goodwill impairment charge, for the three months ending December 31, 2015 became 18.4%, compared to 23.2% in the identical length ultimate 12 months.
Finance fees for the three months ended December 31, 2015 lowered $0.1 million basically as a result of the lessen level of debt unbelievable and lessen hobby costs on our variable fee mortgage.
Distributable cash because of FPI(2) for the fourth quarter of 2015 was $1.6 million or $0.229 per share, a lessen from $1.9 million or $0.270 per share for a similar quarter ultimate yr. The decrease in distributable money as a result of FPI is essentially the effect of decrease EBITDA(1) of FPLP, partially offset through a healing of present salary taxes.
Twelve month operating outcomes of FPI
income for the yr ended December 30, 2015 changed into $3.9 million in comparison to $5.7 million in 2014. The decrease become basically the outcome of lower fairness earnings from FPI's investment in FPLP. An combination non-cash write-down of $26.4 million was recorded in 2015 in accordance with FPI's decision that its 49% fairness funding in FPLP became impaired, primarily as a result of persisted declines in earnings and profits skilled by FPLP. This write-down resulted in a internet lack of $23.8 million for the 12 months ended December 30, 2015. apart from the non-money write-down of the equity investment in FPLP, FPI said web profits of $2.7 million for the year ended December 30, 2015, in comparison to net income of $four.0 million for 2014. The reduce in web revenue is basically as a result of a decrease in the equity share of the internet income of FPLP, with details of this decline disclosed within the FPLP element of this record. For the 12 months ended December 30, 2015, FPI recorded a present salary tax price of $0.6 million and a deferred revenue tax rate of $0.5 million compared to a latest salary tax price of $1.5 million and a deferred revenue tax restoration of $0.1 million in 2014. The trade in deferred revenue tax price is essentially due to FPI's share of FPLP's timing ameliorations basically regarding FPLP's trade in its pension duty. different comprehensive loss for 2015 was $0.7 million in comparison to other finished lack of $1.eight million in 2014. The alternate in different comprehensive (loss) results from FPI's equity share of FPLP's awareness of remeasurements good points and losses regarding its described advantage pension plan.
Twelve month operating effects of FPLP
FPLP's earnings for the twelve months ended December 31, 2015 was $89.0 million, a reduce of $10.0 million or 10.1% from the prior yr. Print advertising revenues for the year ended December 31, 2015 were lower by using 14.0% compared to remaining 12 months. FPLP's largest print advertising revenue class, screen advertising together with coloration, become $32.6 million, a decrease of $6.three million or sixteen.2% from the prior yr, primarily as a result of reduced spending in the car, telecommunications and countrywide grocery and department shop categories. categorized promoting revenues for the 2015 yr diminished by using $1.1 million or 12.three% in comparison to last yr, basically due to decrease spending within the car, employment and true property classes. Flyer distribution revenues were $13.9 million, a lessen of $1.4 million or 9.5% from 2014, primarily as a result of a lower in flyer volumes, because of goal department stores exiting the market and consolidations of big countrywide retailers.
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