Fisher Communications reported television segment revenue of $30.9 million in the second quarter, flat with the $31 million Fisher booked in the second quarter last year. Taking political revenue out of the equation, Fisher's core ad revenue increased 3% in the quarter.
"The company's results reflect our broadcast properties' increasing popularity and growth from our digital platform, combined with our ongoing multiplatform success," said Colleen Brown, president and CEO. "Through the successful execution of our strategic plan, we have increased station market share, developed innovative digital distribution channels to better serve an increasingly mobile audience, strengthened our brand and deepened our community ties, all of which enables Fisher to capture a larger share of the local advertising spend."
Increases in TV core advertising, retransmission revenue and internet revenue offset the decrease in political revenue. Internet revenue increased 66% to $1.4 million in the quarter.
Fisher's radio net revenue decreased 5% to $5.7 million in the quarter.
Fisher reported net income of $3.6 million in the quarter, compared to $328,000 in the second quarter of 2010.
A decrease in operating costs for the quarter included $0.8 million of additional costs related to the proxy contest conducted by FrontFour Capital Group in connection with Fisher's 2011 shareholder meeting. This was offset by a $1.1 million credit, said Fisher, resulting from its revised employee vacation policy.
The television industry's top news stories, analysis and blogs of the day.