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Fisher Communications Reports Lower Q4 Profits

Feb 14, 2005  •  Post A Comment

Fisher Communications, a Seattle-based owner of nine network-affiliated television stations and 27 radio stations, reported a fourth-quarter profit of $4.5 million, versus a year-earlier profit of $19.8 million that was largely attributed to a series of asset sales in the 2003 quarter. Revenue rose 23 percent to $42.3 million, the company reported Monday.

For the year, Fisher recorded a loss of nearly $12 million, compared with a year-earlier profit of $8.2 million. The 2004 loss was attributed to write-downs related to the 2003 asset sales. Revenue rose 11 percent to $153.9 million.

The company said its broadcast properties benefited from robust political and issue advertising in the latter part of the year, which bolstered strong local advertising activity and offset weakness in national advertising.