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Fisher Communications Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 8, 2011 03:41PM

Fisher Communications Inc. (FSCI) filed Quarterly Report for the period ended 2011-09-30. Fisher Communications Inc. has a market cap of $249.7 million; its shares were traded at around $28.28 with a P/E ratio of 28.9 and P/S ratio of 1.4. Fisher Communications Inc. had an annual average earning growth of 11.6% over the past 10 years.



Highlight of Business Operations:

Television. Television revenue decreased $1.5 million in the three months ended September 30, 2011 compared to the same period in 2010. This decrease was due to a decrease in political advertising of $3.7 million, offset by increases in core advertising of $1.8 million, internet advertising of $484,000 and retransmission revenue of $125,000.

Television revenue increased $923,000 in the nine months ended September 30, 2011 compared to the same period in 2010, primarily due to increases in core advertising of $4.4 million, internet advertising of $1.6 million and retransmission revenue of $802,000, offset by a decrease in political spending of $5.6 million.

Revenue from our ABC-affiliated stations decreased 7% in the three months ended September 30, 2011 and remained flat for the nine months ended September 30, 2011 compared to the same periods in 2010, primarily due to a decrease in political revenue partially offset by increases in core advertising. Revenue from our CBS-affiliated stations decreased 7% and 4% in the three and nine months ended September 30, 2011 compared to the same periods in 2010, as a result of a decline in political and national advertising, partially offset by an increase in local advertising.

Radio. Radio revenue declined by 14% and 7%, respectively, in the three and nine months ended September 30, 2011 compared to the same periods in 2010, primarily due to a decrease in core advertising as a result of a general market decline and further impacted by the format change in late 2010 at KVI and the conclusion of our ten year Joint Sales Agreement with KING FM, which was not renewed in the second quarter of 2011.

Fisher Plaza. Revenue increased 5% and 7%, respectively, in the three and nine months ended September 30, 2011 compared to the same periods in 2010, primarily due to increased rental revenue and increased fees for our telecom facilities. As of September 30, 2011, approximately 96% of Fisher Plaza was occupied or committed for occupancy (41% was occupied by Fisher entities).

Read the The complete Report



Stocks Discussed: FSCI,
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