Barrington 3Q Revenue Drops 5.6%

Barrington Broadcasting Group today announced its financial results for the three months ended Sept. 30, and reported that its gross revenues for the quarter decreased 5.6% to $31.9 million from $33.8 million for the quarter ended Sept. 30, 2010. 

The company said the decrease was primarily due to a drop in political revenues of $3.5 million to $300,000.

Local revenues increased $1.2 million, or 7%, to $18.9 million, and national revenues increased $500,000, or 6.8%, to $7.1 million.

Retransmission revenues increased $300,000, or 16.1%, to $2.5 million.

Other revenues decreased $500,000, or 12.7%, to $3.1 million.

Net revenues (gross revenues less agency commissions and other direct costs) for the quarter decreased 4.8%, or $1.4 million, to $27.4 million from $28.8 million in the year-ago quarter.

Operating expenses, not including depreciation and amortization, increased $1 million, or 5.3%, to $19.6 million from $18.6 million in 3Q 2010. The increase was primarily due to increased sales commissions and programming fees.

Broadcast cash flow decreased 20.5% to $9.1 million from $11.5 million a year ago. 

“Our continued focus on local sales combined with national and retransmission revenue growth produced positive results this quarter,” said K. James Yager, Barrington CEO. “We continue to be committed to the company’s three key priorities of re-engineering of our station-level operations, development of direct local sales strategies, and the growth of the stations’ local digital platforms.”