The Investment Reporter, in its April 17, 2015, issue, says buy Newfoundland Capital Corp. Ltd., recently $8.96. The Reporter said buy on Oct. 4, 2013, at $9.25, and on Nov. 21, 2014, at $9.10. A $1,000 investment for each buy would now be worth $1,944. The radio broadcaster had lower earnings in 2014 partly because of one-time items. Earnings from continuing operations fell to $11.2-million, or 38 cents a share, from $27-million, or 79 cents a share, in 2013. These one-time items include a non-cash impairment charge of $5.7-million; costs related to its acquisition of radio stations in Toronto and Vancouver; a one-time gain of $3.8-million in 2013; and a higher income tax bill. The company also blames lower national advertising revenue and increased competition. While lower national advertising may keep recurring as more ads migrate to the Internet, the Reporter says NCC is starting to overcome competition with improving ratings. The newsletter adds that a better picture emerges when you exclude one-time items. This picture is backed by a 10.2-per-cent rise in cash flow to $33.8-million, and a higher dividend of 18 cents a share with a yield of 2 per cent. Newfoundland Capital remains a buy.