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Fisher Station Revenue Down 5% - Broadcasting & Cable

Fisher Station Revenue Down 5%

Lack of political hampers earnings, but core revenue gained, thanks in part to internet revenue
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Fisher Communications reported third quarter total revenue of $39.7 million, down 5% from the same quarter a year ago, and on par with its local broadcast peers. Television segment revenue was $30.5 million, down 5% from $32 million in the same quarter last year.

Taking last year's heavy political spending out of the equation, Fisher's net television revenue increased 8% over the same period last year. Increases in TV core advertising and internet revenue helped offset some of the decrease in political revenue. Internet revenue increased 52% to $1.4 million and TV core advertising revenue increased 9%.

The company reported net income of $1.4 million in the quarter, compared to $3.3 million in the third quarter of 2010.

"Our solid third quarter performance demonstrates the continued strength of our market-leading broadcast properties and the growing popularity of our digital platform," said Colleen Brown, Fisher president and CEO. "Through the successful execution of our strategic plan, we have transformed Fisher into a leader in local media by improving audience and revenue share, embracing new ways to distribute our content, and leveraging our unique multiplatform approach."

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