LIN Boosts Revenue, Narrowing Q1 Loss

May 9, 2006  •  Post A Comment

LIN TV reported a narrower first-quarter loss Tuesday, reflecting revenue bolstered by the company’s purchase of seven television stations last year.

LIN, which owns 30 stations, lost $4.3 million last quarter, compared with a loss of $10.3 million the year before. Providence, R.I.-based LIN’s results last year included a pre-tax charge of $12.3 million related to paying off debt. On a per-share basis, the first-quarter loss was 9 cents, compared with 20 cents a year ago.

Revenue from the recently purchased stations, plus Olympics revenue at LIN’s NBC stations, helped fuel a 28 percent jump in revenue to $100.8 million. LIN is seeking new revenue to even out year-to-year fluctuations in political advertising spending.

Excluding results from the seven stations purchased last year, revenue rose 5 percent, the company said. Expenses at LIN jumped 30 percent to $92 million as costs rose from operating the additional TV stations and $1.9 million in employee stock-option compensation.