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Gray Television's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Gray Television (GTN)

Q3 2011 Earnings Call

November 04, 2011 11:00 am ET

Executives

James C. Ryan - Chief Financial Officer and Senior Vice President

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

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

Analysts

Barry L. Lucas - Gabelli & Company, Inc.

Marci Ryvicker - Wells Fargo Securities, LLC, Research Division

Presentation

Operator

Good day, everyone, and welcome to the Gray Television Third Quarter 2011 Earnings Release Conference Call. As a reminder, today's call is being recorded. For opening remarks and introductions, I would now like to turn the call over to CEO and Co-Chairman, Mr. Hilton Howell. Please go ahead, sir.

Hilton H. Howell

Thank you, operator. I thank all of you for joining us for this teleconference this morning. I will begin as usual with the brief overview of our results followed by Bob Prather, our President and Chief Operating Officer, who will add his thoughts concerning our performance so far this year; and then our Chief Financial Officer, Jim Ryan will follow with a brief discussion of our income statement, balance sheet and more detailed financial data. And as usual, we will have questions at the conclusion of our comments.

We are pleased with our results this quarter. As expected, we have come up against tough comparables due to large amount of political advertising we received a year ago. Political advertising, which in 2010 set a record for our company in a non-presidential election cycle.

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