EARNINGS: Belo TV Up, Newspapers Down
By Michael Malone -- Broadcasting & Cable, 4/27/2007 12:02:00 PM
Belo Corp. reported net earnings per share of $.15 for the first quarter of 2007, down from $.16 in 2006 . Consolidated revenue for the first quarter was $354 million, down 4.8% from the first quarter of last year.
The Television Group posted strong numbers, its revenue up 2.1% in the first quarter despite not having Olympics or political income, as with last year. Newspapers, however, were down 11% from the first quarter of 2006.
"Belo’s first quarter results reflect another quarter of outstanding revenue performance by our Television Group and excellent expense management across the Company, tempered by a challenging newspaper advertising environment," stated Belo Chairman Robert W. Decherd.
Belo owns 19 television stations.
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