Barrington Broadcasting announced net revenue for the first quarter of $22.4 million, a 16% drop from the same quarter last year. Gross revenue for the quarter was down 16.9%. The latter "was primarily due to decreases in local revenues which decreased $2.8 million, or 14.4%, to $16.5 million, national revenues which decreased $2.5 million, or 30.0%, to $5.8 million, and political revenues which decreased $1.5 million to $0.2 million," Barrington said in a statement.
Broadcast cash flow for the quarter decreased 38% to $4.4 million from $7 million for the quarter ended March 31, 2008.
"Barrington continued to reduce its operating expenses through increased operating efficiencies. In addition, we saw an increase in interactive revenues and revenues from retransmission consent agreements, and we began to see positive results of our increased sales presence in our markets," said Barrington CEO K. James Yager. "However, these positive trends were offset by continued weakness in local and national advertising."
Barrington's stations include WNWO Toledo and WPDE Myrtle Beach.