QUARTERLY REPORT

Belo 2Q Revenue Up 2.1%

Core local and national spot revenue was affected by a 6.6% decrease in automotive revenue due to the disruption in auto supply related to events in Japan. Excluding automotive revenue, its core spot revenue was up 5%, while retrans and Internet revenue rose by double digits.

Belo Corp. today reported total revenue increased 2.1% in the second quarter of 2011 versus the second quarter of 2010.  Total spot revenue, excluding political, was up 2.4% with a 2% increase in local spot revenue and a 3.2% increase in national spot revenue.

Core local and national spot revenue was affected by a 6.6% decrease in automotive revenue due to the disruption in auto supply related to events in Japan.

Total spot revenue, including political, was up 1.4% in the second quarter.  Political revenue was $1.4 million lower than the second quarter of 2010. 

Other revenue, which includes barter and trade advertising, network compensation, Internet advertising and retransmission revenue, was up 5.6% due to double-digit percentage increases in Internet and retrans revenue, which were partially offset by a decrease in network compensation.

Station salaries, wages and employee benefits increased $2.6 million, or 5%, during the second quarter.

Dunia A. Shive, Belo’s president-CEO, said, “Belo’s spot revenue excluding political was up 2.4% in the second quarter of 2011 compared to the second quarter of 2010 despite disruption in the automotive category related to events in Japan.  Automotive cancellations were within our initial expectations for the quarter, and we experienced strong performance in other key categories such as retail, healthcare and telecommunications.  Excluding automotive revenue, our core spot revenue was up 5% in the second quarter of 2011 compared to the second quarter of 2010.”

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Read the company’s report here.


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