Most of the gain comes from $20.5 million in local revenue, an increase of 8% from the year earlier period.
Barrington Posts 4.3% Rise In 2Q Revenue
Barrington Broadcasting reported today that its second quarter gross revenues increased 4.3% to $34.2 million from $32.7 million for the quarter ended June 30, 2010. The company said the increase was primarily due to an increase in local revenues of $1.5 million, or 8%, to $20.5 million.
National revenues were unchanged at $7 million for the quarter, and political revenues decreased $600,000 to $400,000.
Retransmission revenues increased $500,000, or 23%, to $2.5 million.
Other revenues increased $0.1 million, or 1.7%, to $3.7 million.
Net revenues (gross revenues less agency commissions and other direct costs) for the quarter 30 increased 4.7%, or $1.3 million, to $29.4 million from $28.1 million.
Operating expenses for the quarter, not including depreciation and amortization, increased 0.4%, or $100,000, to $19.1 million from $19 million a year earlier.
Broadcast cash flow for the quarter increased 5.6% to $11.4 million from $10.8 million.
“Our continued focus on local sales produced sales that more than offset the slowdown in national sales during the quarter as well as the decrease in political revenues from 2010,” said K. James Yager, the company’s CEO. “We remain 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. Our focus on these areas contributed to record second quarter broadcast cash flow results.
Read the company’s report here.