Strong 4Q for Hearst-Argyle, Belo
By Steve McClellan -- Broadcasting & Cable, 2/7/2003 11:35:00 AM
Hearst-Argyle Television Inc. and Belo Corp. posted upbeat earnings numbers.
Hearst-Argyle said fourth-quarter-2002 revenues were up 21 percent to $207.6 million with a 37 percent gain in operating cash flow to $95.2 million.
Hearst-Argyle's full-year-2002 revenues were up 12 percent to $721.3 million with a 26 percent gain in operating cash flow to $310.1 million.
The full-year results fell short of the company's record 2000 results, when revenues reached $747.8 million and operating cash flow totaled $345 million.
Belo posted a 20 percent fourth-quarter TV-revenue gain to $187.1 million on a 38 percent operating-cash-flow gain to $87.3 million.
For the year, TV revenues were up 10 percent to $657.5 million with a 19 percent gain in operating cash flow to $282.2 million.
Like Hearst-Argyle, Belo's full-year-2002 results fell short of 2000 levels, when TV revenues totaled $699.5 million with operating cash flow of $309 million.
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