Fisher Communications Reports Q2 Financial Results
July 28, 2011 at 11:49 AM (PT)
FISHER COMMUNICATIONS TODAY (7/28) reported its financial results for the second quarter ended JUNE 30th, 2011.
FISHER Pres./CEO COLLEEN B. BROWN commented, "FISHER performed well in the second quarter, with a steady increase in net television revenue and robust EBITDA growth. The Company's results reflect our broadcast properties' increasing popularity and growth from our digital platform, combined with our on-going multi-platform success. Through the successful execution of our strategic plan, we have increased station market share, developed innovative digital distribution channels to better serve an increasingly mobile audience, strengthened our brand and deepened our community ties, all of which enables Fisher to capture a larger share of the local advertising spend."
Fisher's Radio Highlights
* Radio net revenue decreased 5% to $5.7 million.
* Radio cash flow increased $654,000 to $1.7 million and cash flow margin was 29.1%, up from 16.7%.
* Radio results reflected the wind-down of the KING Joint Sales Agreement which was not renewed during the quarter.
Natha, Pelletier Upped
FISHER also announced that VP/CFO HASSAN NATHA has been upped to SVP/CFO and Director of Human Resources SHERRY PELLETIER has been promoted to VP of Human Resources.
"These promotions are well-deserved and reflective of the significant contributions that HASSAN and SHERRY have provided to the Company," said BROWN. "HASSAN is a valued member of our executive team and has been instrumental in helping execute our strategic plan and create value for our shareholders. SHERRY brings a wealth of experience to her new role and we look forward to her continued contributions."