LIN TV reports first quarter results


Net revenue up 37% compared to same period in 2012; operating income down nearly $9M

LIN TV Corp., which owns Terre Haute CBS/FOX affiliate WTHI-TV (seen in the northernmost part of the Tri-State), along with CBS affiliates in Indianapolis, Lafayette and Ft. Wayne and the Indianapolis market's MyNetworkTV affiliate, today reported results for its first quarter ended Mar. 31, 2013:
  • Net revenues increased 37% to $141 million, compared to $103.2 million in the first quarter of 2012.
  • Local revenues, which include net local advertising revenues, retransmission consent fee revenues and television station website revenues, increased 47% to $99.4 million, compared to $67.7 million in the first quarter of 2012.
  • Net national revenues increased 28% to $29.5 million, compared to $23.1 million in the first quarter of 2012.
  • Interactive revenues, which include revenues from LIN Digital (formerly RMM) and Nami Media, increased 29% to $9 million, compared to $7 million in the first quarter of 2012.
  • Net political revenues were $0.5 million, compared to $2.9 million during the first quarter of 2012. 
  • Operating income was $11.8 million, compared to operating income of $20.5 million in the first quarter of 2012.
  • Net loss per share was ($0.02), compared to net income per diluted share of $0.08 in the first quarter of 2012. 
"After achieving record results last year, ad revenue is off to a slower start in 2013," said LIN president and CEO Vincent Sadusky. "However, retransmission revenues and the continued growth and contribution of our digital business more than offset declines."

LIN expects that its net revenues for the second quarter of 2013 will increase in the range of 36% to 39% (or $43 million to $47 million), as compared to net revenues of $121 million in the second quarter of 2012. On a same station basis, the company expects that net revenues will be flat to up 1% compared to the second quarter of 2012.

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