This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

LIN TV Corp. Announces Fourth Quarter And Full Year 2011 Results

LIN TV Corp. (“LIN Media”; NYSE: TVL), a local multimedia company, today reported results for its fourth quarter and full year ended December 31, 2011. 1

Summary of Results for the Fourth Quarter Ended December 31, 2011

  • Net revenues decreased by 8% to $111.5 million, compared to $121.7 million in the fourth quarter of 2010. Excluding net political advertising, revenues increased 11% to $108.5 million, compared to $97.9 million for the same quarter in 2010.
  • Local revenues, which include net local advertising revenues, retransmission consent fees and TV station web site revenues, increased 12% to $69.8 million, compared to $62.2 million in the fourth quarter of 2010.
  • Net national revenues decreased by 2% to $26.1 million, compared to $26.5 million in the fourth quarter of 2010.
  • Net political revenues were $3.0 million, compared to $23.8 million in the fourth quarter of 2010.
  • Interactive revenues, which includes revenues from RMM, the Company’s online advertising and media services business, and Nami Media, the Company’s digital advertising management and technology company, increased by 54% to $8.4 million, compared to $5.5 million in the fourth quarter of 2010.
  • Operating income decreased by 32% to $29.8 million, compared to operating income of $43.6 million in the fourth quarter of 2010.
  • Net income per diluted share was $0.76, which includes special items of $0.63 per share, as further described below, compared to net income per diluted share of $0.38 in the fourth quarter of 2010.

Summary of Results for the Full Year Ended December 31, 2011

  • Net revenues decreased by 2% to $400.0 million, compared to $408.2 million in 2010. Excluding net political advertising, revenues increased 7% to $391.9 million, compared to $366.6 million in 2010.
  • Local revenues increased by 7% to $255.5 million, compared to $237.7 million in 2010.
  • Net national revenues decreased by 3% to $95.7 million, compared to $98.9 million in 2010.
  • Net political revenues were $8.1 million, compared to $41.6 million in 2010.
  • Interactive revenues increased by 66% to $27.2 million, compared to $16.4 million in 2010.
  • Operating income decreased by 20% to $89.1 million, compared to operating income of $111.8 million in 2010.
  • Net income per diluted share was $0.85, which includes special items of $0.58 per share, as further described below, compared to net income per diluted share of $0.66 in 2010.

_______________

1 The following summary of results excludes the operations of WWHO-TV, in Columbus, OH and WUPW-TV, in Toledo, OH, which were classified as held for sale at year end, and are presented as discontinued operations in the accompanying consolidated statements of operations and cash flows.

_______________

Commenting on fourth quarter and full year 2011 results, the Company’s President and Chief Executive Officer Vincent L. Sadusky said: “We had a strong fourth quarter finish to a year marked by many successes, including record interactive results and the best odd-year EBITDA and EBITDA margin in nearly a decade. We achieved these results despite persistent economic weakness and while continuing to invest in our growth platforms. Looking ahead, we are optimistic about further economic recovery and its positive impact on TV advertising in 2012.”

1 of 7

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs