Fisher Reports 2Q Core TV Revenue Up 4%

Fisher Communications on Friday reported financial results for the second quarter ended June 30 that included flat total TV net revenue year-over-year. Excluding political revenue, TV net revenue was up 2%.

Core revenue increased 4% year-over-year due to the strength in automotive and professional fees.

Retransmission consent revenue increased 6% to $6.6 million, as a result of renewed contracts.

TV cash flow decreased 18% to $10.3 million; TV cash flow margin was 28%, down from 34%. Excluding the increase in network programming fees TV cash flow would be essentially flat year-over-year.

Fisher Interactive, the company’s digital media unit, achieved its highest audience ever in the second quarter delivering nearly 50 million average monthly page views network-wide.

On June 1, the company closed on its previously announced acquisition of assets of KMTR, the NBC and CW affiliates in Eugene, Ore.

“The second quarter marked a continuation of our positive momentum, with Fisher delivering another solid quarter financially and operationally,” said Colleen B. Brown, Fisher’s president and chief executive officer. “Once again our performance highlights the strength of our broadcast stations in their respective markets, which continued to climb in ratings rank and received a number of coveted awards during the quarter.”

Fisher also announced that due to its pending acquisition by Sinclair Broadcast Group, it will not conduct a conference call to discuss the second quarter 2013 financial results.

Read the company’s report here.