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

Gray Television's CEO Discusses Q2 2011 Results - Earnings Call Transcript

Gray Television (GTN)

Q2 2011 Earnings Call

August 08, 2011 1:00 pm ET


Robert Prather - President, Chief Operating Officer, Director and Member of Executive Committee

Hilton Howell - Vice Chairman, Chief Executive Officer and Member of Executive Committee

James Ryan - Chief Financial Officer and Senior Vice President


Aaron Watts - Deutsche Bank AG

Marci Ryvicker - Wells Fargo Securities, LLC

Steven Pfeiffer - Wells Capital Management

Unknown Analyst -

Barry Lucas - Gabelli & Company, Inc.

Bishop Cheen - Wells Fargo Securities, LLC



Good day, everyone, and welcome to the Gray Television Second Quarter 2011 Earnings Release Conference. Today's call is being recorded. At this time, I'd like to turn things over to Mr. Hilton Howell. Please go ahead, sir.

Hilton Howell

Thank you, operator, and good afternoon, everyone. Welcome to the second quarter and 6 months review of Gray TV's financial performance. Thank you for joining us on this sort of infamous day for our country and our markets. We appreciate your interest very, very much.

As usual, I will begin with just a few brief comments followed by Bob Prather, our President and Chief Operating Officer, who will add more color to this quarter's performance; and then to Jim Ryan, our Chief Financial Officer, who will follow with a brief discussion of our financial information and more information on the release we let go this morning.

We are happy with our results this quarter and think it speaks well for the TV assets of Gray Television, as well as the resiliency of the broadcast television industry as a whole. Our total revenue for the quarter advanced a 1% to $76.2 million from $75.6 million in Q2 2010 and exceeded our initial estimates for the quarter this year as well. The increase was driven primarily by increases in local advertising and Internet advertising, which was 4% or $1.9 million and 56% or $1.7 million, respectfully. These gains were offset by expected decreases in political advertising during this off-year cycle and the national advertising, which decreased by 59% or $3.3 million and 3% or $400,000, respectfully.

1 of 3

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 17,121.72 -10.14 -0.06%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,811.92 -26.7230 -0.55%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs