Fisher Q2 Radio Revenues Fall While TV Leads Company's Growth
August 7, 2012 at 5:29 AM (PT)
FISHER COMMUNICATIONS, INC. second-quarter consolidated revenue rose 5% to $42.3 million (up 16% excluding revenues from FISHER PLAZA, which the company sold late last year), but radio decreased 2% to $5.6 million.
Radio cash flow grew 12% to $1.8 million; radio cash flow margin grew from 29.1% to 33.2%. Earnings per diluted share rose from 41 to 48 cents. Broadcast cash flow increased 69% to $14.4 million; EBITDA increased 15% to $8.9 million.
"FISHER's solid performance is a result of playing to our strength," said Pres./CEO COLLEEN B. BROWN. "The combination of leading broadcast stations and innovative digital solutions, leverages the strength of our local media assets. Through our multi-platform approach, FISHER is deepening its relationship with consumers and providing advertisers with advanced local multi-platform solutions to reach their customers -- these are distinct advantages that benefit all of our stakeholders."