Hearst-Argyle Profit Falls

Hearst-Argyle Television (HTV Quote) results were weaker as the TV station group felt the brunt of Hurricane Katrina, along with the absence of political and Olympic-year ad dollars that helped last year's quarter.

The company recorded earnings of 13 cents per share, compared to 32 cents per share in the third quarter of 2004. It said it had revenue of $164 million, consistent with guidance it provided prior to Katrina.

Analysts polled by Thomson were expecting 14 cents on $165 million in revenue. Revenue was $194 million during the same period last year, a 15% decline. ...