Fisher Radio Revenues Flat In Q4
March 1, 2013 at 3:49 AM (PT)
FISHER COMMUNICATIONS, INC. fourth-quarter revenues rose 12% to $52.1 million (up 20% excluding revenue from the now-sold FISHER PLAZA building in 2011's fourth quarter figures), with adjusted EBITDA up 65% to $17.5 million (96 cents/diluted share). However, radio revenue remained "relatively flat" at $5.5 million, as did radio cash flow at $1.4 million.
"We are pleased with our operating performance in the fourth quarter and full year of 2012. For the seventh consecutive year, FISHER broadcast stations grew core market revenue share reflecting the quality and value of our local brands, and validating the strength and execution of our strategic plan," said Pres./CEO COLLEEN B. BROWN. "As we begin 2013, we remain focused on building on our momentum and creating value for our shareholders."
BROWN added, "Completing our first full year as a pure play broadcaster, adjusted EBITDA increased 71% from prior year. Revenue growth and operational efficiencies, demonstrate the robust leverage inherent in our business model."
The company's board also declared a quarterly cash dividend of 15 cents per share on its common stock payable on MARCH 29th to shareholders of record at the close of business on MARCH 19th.