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Acme Posts Narrower Quarterly Loss

Mar 10, 2005  •  Post A Comment

Jamie Kellner’s Acme Communications reported a narrowed fourth-quarter loss of $6.8 million, compared with a year-earlier loss of $7.2 million, as improvements in broadcast cash flow helped overcome a lack of political advertising revenue at the company’s nine television stations.

Revenue for the quarter rose 11 percent to $12.4 million, the company reported Thursday.

For the year, Acme swung to a loss of $17.5 million, compared with a year-ago profit of $75 million. The 2003 profit was largely the result of gains associated with the company’s sale of a television station in St. Louis. Revenue rose 8 percent to $46.9 million.

Despite the improved results, the company warned that it does not think 2005 will be nearly as strong thanks to weaker ratings at The WB Network, with which all nine TV stations are affiliated.

“During the company year, the board will continue to monitor its strategic alternatives and explore opportunities to maximize the value of our assets within the constraints of a stalled regulatory environment and challenging advertising market,” Mr. Kellner said in a statement.