Fisher Communications Reported Q4 and Full Year Results
March 3, 2011
Fisher says total revenue for the fourth quarter of 2010 was $57.6 million, an increase of 49% compared to the fourth quarter of 2009, primarily due to strong political advertising revenue and improvements in other advertising categories. Direct operating costs and selling, general and administrative expenses for the fourth quarter of 2010 increased $3.9 million, or 12%, from the fourth quarter of 2009 primarily due to an increase in variable compensation costs and costs related to a format change at KVI radio. EBITDA increased $15.3 million to $19.4 million in the fourth quarter of 2010.
On the Radio side, net revenue increased 17% in Q4 to $7.1 million. Cash flow grew $339,000 to $1.4 million and cash flow margin was 19.7%, up from 17.4%. For 2010 net revenue increased 11% to $25.3 million. Cash flow increased $755,000 to $4.9 million; Radio cash flow margin improved 1.2% to 19.2%. Among other media properties Fisher owns 8 radio stations in the western United States.