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Hearst-Argyle 2Q revs down

By Steve McClellan -- Broadcasting & Cable, 7/3/2003 10:58:00 AM

Hearst-Argyle Television Inc. reported Thursday that second-quarter revenues will be down about 2% to roughly $179 million.

The company, which will report second-quarter results July 30, attributed the drop in revenues to lack of political advertising.

Excluding the roughly $4 million incremental gain from political advertising a year ago, company president David Barrett said second-quarter-2003 revenues would be "essentially flat."

The company estimated earnings per share in the quarter of 27 cents, which would be a drop of about 18% from the 33 cents per share the group earned in the second quarter of 2002, but flat with second-quarter EPS for 2001.

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