Fisher Q2 Revenues, Income Off
July 26, 2013 at 1:44 PM (PT)
FISHER COMMUNICATIONS, INC. second quarter revenues were flat at $42.1 million, with radio revenue off 2% to $5.4 million, blamed on "market softness." Radio cash flow was off $150,000 to $1.7 million. Net income fell from $4.3 million to $400,000 (including $3.9 million of pre-tax strategic transaction-related expenses; without the expenses, net income would have been $2.8 million (31 cents/share).
"The second quarter marked a continuation of our positive momentum, with FISHER delivering another solid quarter financially and operationally. Once again our performance highlights the strength of our broadcast stations in their respective markets, which continued to climb in ratings rank and received a number of coveted awards during the quarter. KOMO 4 News, FISHER's flagship station in SEATTLE, recently won 15 Regional Emmys, including the most prestigious Station Excellence Award. And for the second consecutive year, KOMO 4 won Best Evening Newscast, and for the third consecutive year, Best Morning Newscast," said President/CEO COLLEEN B. BROWN. "We are also pleased to announce that in the second quarter we closed our acquisition of assets of KMTR(TV) in EUGENE, OREGON. We look forward to working with the KMTR team to leverage our strengths, reach and resources to better serve the EUGENE community."
FISHER is in the process of being acquired by SINCLAIR BROADCASTING GROUP.