Baltimore-based TV station group says quarterly net revenue rose less than half a percentage point over last year to $163 million.
Sinclair Broadcast Group reported this morning that its net broadcast revenue in the second quarter barely exceeded last year’s take for the quarter, inching up 0.4% to $163.8 million.
Sinclair said local revenue, which accounts for 64% of all revenue, grew 3.6% in the quarter versus 2005, while national advertising revenues decreased 9.6%. Excluding $1.7 million in political revenues (up from $300,000 last year), local revenue was up 3.2% while national advertising revenue was down 11.2%.
Operating income was $47.2 million in the three-month period as compared to $52.3 million in the prior year period, a decrease of 9.9%, Sinclair said.
Diluted earnings per common share from continuing operations were $0.13 as compared to $0.15 in the same period last year.
According to Sinclair, the quarter’s revenue was helped by increased spending in the services, telecommunications, retail, schools and restaurant categories, But those gains were offset by softness in the automotive, fast food, travel/leisure, Internet, paid programming and entertainment categories.
Automotive, which represents 24% of Sinclair’s revenues, was down 3% in the quarter.
Sinclair is expecting a stronger top line in the third quarter. It said it anticipates net broadcast revenue, before barter, to grow between 3.5% and 4.2% from third quarter 2005, assuming $4.2 million in political advertising.