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Strong Q2 for Nexstar Broadcasting

Nexstar Broadcasting Group’s revenues jumped in the second quarter, but they are expected to moderate in the third quarter.

The company’s revenues in the second quarter rose 6.5% to $68.7 million from $64.6 million, helped by a 5.1% rise in gross local and national advertising revenues. EBITDA (earnings before interest, taxes, depreciation and amortization) rose 8.5% to $26.8 million from $25.5 million and operating income rose 21% to $13.4 million from $11.1 million. Net loss narrowed to $1.3 million from $2.4 million a year ago.

The company’s free cash flow rose to $9.6 million in Q2, a 47% increase compared with the same quarter in 2006.

Nexstar estimated third-quarter revenues to be in the $64 million-$65 million range, representing a 0.6%-2.2% increase over Q3 2006. The company sees station operating expenses increasing 4.3%-5.5% to be in a range of $41.5 million-$42 million.