Granite Sees Double-Digit Gains in Q4

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Granite Broadcasting reported a 14% increase in net revenue for the fourth quarter 2006, as well as a nearly 9% gain for the full year. Granite reported big gains in broadcast cash flow, up 53% during the fourth quarter and 41% for the year.

“Revenue from the new station we operate in Binghamton (NY), strong political revenue and solid non-political local growth, particularly in Detroit, Duluth and Fresno, all contributed to our revenue performance,” stated CEO W. Don Cornwell.

New York-based Granite owns stations in 11 markets across the country.

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