Fisher Communications was profitable last year for the first time in five years.
Fisher, which owns 19 television and nine radio stations in the Pacific Northwest, reported a revenue increase of $8.4 million, or 23%, for fourth quarter 2006, thanks primarily to political advertising. The company announced consolidated net income of $16.9 million for the quarter.
For the full year, revenue increased 13% to $17.6 million from 2005.
“The 2006 results and asset alignment have set the foundation for Fisher to build on an attractive business structure going forward,” stated CEO Colleen Brown.
Fisher closed on the sale of 18 small-market radio stations for $26.1 million in quarter four. The company also finalized its purchase of two Oregon TV stations for $19.3 million.