LIN 2Q Revenue Climbs 20% To $121M

LIN TV Corp. today reported that its net revenues increased 20% to $121 million, compared to $101 million in the second quarter of 2011.

Local revenues, which include net local advertising revenues, retransmission consent fees and TV station website revenues, increased 14% to $74.3 million, compared to $65 million in the second quarter of 2011.

Net political revenues were $7.6 million, compared to $1.8 million in the second quarter of 2011.

Net national revenues increased 7% to $25.4 million, compared to $23.8 million in the second quarter of 2011.

Core local and national time sales combined, which excludes political times sales, increased 6% in the second quarter of 2012, compared to the second quarter of 2011.

The automotive category, which represented 26% of local and national advertising sales in the second quarter of 2012, increased 25% compared to the second quarter of 2011, during which the automotive category represented 21%.

Interactive revenues, which include revenues from RMM and Nami Media1, increased 50% to $10.5 million, compared to $7 million in the second quarter of 2011.

Operating income increased 51% to $35 million, compared to $23.2 million in the second quarter of 2011.

Net income per diluted share was $0.48, including a gain of $0.21 on the sale of discontinued operations, compared to $0.02 in the second quarter of 2011.

Commenting on the results, the Company’s President-CEO Vincent L. Sadusky said: “A healthy rebound in automotive advertising, our unique multiplatform advertising solutions and strong political demand were the

major drivers for our 20% increase in net revenues, which exceeded the high-end of our revenue guidance. In addition, interactive revenues increased 50% and continue to be a significant source of growth and opportunity. The third quarter is trending well as a result of strong automotive, Olympics and political advertising, as well as our ability to generate interactive sales.”

You can read the company’s report here.