Nexstar Broadcasting Group’s revenues jumped in the second quarter, but they are expected to moderate in the third quarter.
The company’s revenues in the second quarter rose 6.5% to $68.7 million from $64.6 million, helped by a 5.1% rise in gross local and national advertising revenues. EBITDA (earnings before interest, taxes, depreciation and amortization) rose 8.5% to $26.8 million from $25.5 million and operating income rose 21% to $13.4 million from $11.1 million. Net loss narrowed to $1.3 million from $2.4 million a year ago.
The company’s free cash flow rose to $9.6 million in Q2, a 47% increase compared with the same quarter in 2006.
Nexstar estimated third-quarter revenues to be in the $64 million-$65 million range, representing a 0.6%-2.2% increase over Q3 2006. The company sees station operating expenses increasing 4.3%-5.5% to be in a range of $41.5 million-$42 million.