This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nexstar Broadcasting Group's CEO Discusses Q4 2010 Results - Earnings Call Transcript

Perry Sook

Thank you, Mimi and good morning, everyone. Thank you all for joining us today to review Nexstar's fourth quarter and full year 2010 operating results. CFO, Tom Carter is also with me on the call this morning. And after our prepared remarks, we will be glad to open the call for your questions.

As we entered 2010, we telegraphed everyone that we were positioned to return to growth and I think it's evident with the record results reported each quarter throughout this year and again this morning, that Nexstar has exceeded that promise. Nexstar's industry-leading growth of this past year is directly attributable to our significant revenue diversification initiatives and our focus on free cash flow. And our fourth quarter earnings represent the highest quarterly level of revenue and cash flows in the company's history.

The efficacy of our revenue diversification strategies and our expense management disciplines has been borne out in comparison in 2010 fourth quarter net revenue to that of the same period of 2008, which was a Presidential election year. Comparing these periods, we grew net revenue by approximately 21% while our cash flow growth measured by BCF, EBITDA and free cash flow grew by multiples over that same time.

We refer to our quadruple play of revenue drivers and our success in driving profitable revenue growth, reflects our strength of our core local content. It also reflects our initiatives to develop distribution and digital extensions for our core content, including the creation of new online, text and mobile content and applications. And the benefit derived from leveraging our management team to provide services to other broadcasters.

Strengthened core television advertising trends, which began for Nexstar in the 2009 fourth quarter is continuing here in Q1 of 2011. And we are well-positioned to further grow all of our non-political revenue sources throughout this current year.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs