The gains were powered by double-digit gains in retrans revenue, auto and professional services spending and developing media revenue.
Fisher Communications Inc. today posted financial results for the fourth quarter ended Dec. 31, 2011, that included net TV revenue, excluding political, of $27/4 million, an increase of 9% over the same quarter a year earlier.
Among the highlights:
- Retransmission consent revenue increased 14% to $3.4 million.
- Automotive and professional services advertising increased 19% and 26%, respectively, while retail decreased 6%.
- TV cash flow decreased $7.1 million to $13.3 million; TV cash flow margin was 35.1%, down from 43.6% due to the expected decrease in political revenue.
- Developing media revenue grew 44% to $1.6 million. Total Internet revenue (including multiplatform Internet-related revenue, which is reported in TV core net advertising revenue) was 8% of TV core net revenue compared to 6% in 2010.
Commenting on the company’s financial performance, Fisher President-CEO Colleen B. Brown said: “We are very pleased with how our core broadcasting business and digital portfolio performed in 2011, especially the strong results we delivered in the fourth quarter. The momentum we have built — combined with the successful execution of our strategy — has enabled us to consistently take valuable ratings and revenue share in our markets.
“In 2012, we remain focused on executing our multiplatform approach, which is creating long-term value for our audiences, shareholders and business partners. By leveraging the significant reach and popularity of our TV and radio stations with innovative digital media platforms that deliver personalized content and marketing solutions, we are enabling consumers to receive news and information across multiple screens, driving deeper levels of community engagement and providing targeted ways for businesses to reach their customers. These are fundamental to our ability to capture a larger share of the entire media market advertising spend.”
Read the company’s report here.