LIN TV Corp. Announces Preliminary Financial Results for the First Quarter Ended March 31, 2010
07 4월 2010 - 9:30PM
Business Wire
LIN TV Corp. (NYSE: TVL) today announced preliminary selected
results for the first quarter of 2010.
We expect to report the following:
- Net revenues to increase by 23%
to $91.8 million, compared to $74.5 million for the same quarter in
2009.
- Core local and national
advertising sales combined, which excludes political advertising
sales, to increase by 17% to $84.3 million, compared to $72.3
million for the same quarter in 2009, and the automotive category,
which represented 23% of our core advertising sales for the
quarter, to increase by 54% to $19.3 million, compared to $12.5
million for the same quarter in 2009.
- Political revenues to increase
by $2.9 million to $3.4 million, compared to $0.5 million for the
same quarter in 2009.
- Digital revenues, which include
Internet advertising revenues and retransmission consent fees, to
increase by 47% to $13.2 million, compared to $8.9 million for the
same quarter in 2009.
Commenting on these preliminary selected first quarter 2010
results, LIN TV’s President and Chief Executive Officer Vincent L.
Sadusky said: “We are pleased to see signs of an economic recovery.
The preliminary first quarter results show positive momentum and
pacing for the second quarter of 2010 is currently greater than 20%
ahead of where we were last year at this time.”
Because the Company’s first quarter ended March 31, 2010
recently ended, the above information relating to our first quarter
2010 revenue results is, by necessity, preliminary in nature and
based only upon preliminary information available to the Company as
of the date of this report. The results discussed above may change
based on the completion of the quarterly closing and review
procedures by our management and our independent registered public
accounting firm, PricewaterhouseCoopers LLP. The preliminary
revenue results have been prepared by and are the responsibility of
our management. PricewaterhouseCoopers LLP has not audited,
reviewed, compiled or performed any procedures with respect to this
preliminary financial data. Accordingly, PricewaterhouseCoopers LLP
does not express an opinion or any other form of assurance with
respect thereto.
In addition, the statement in this press release regarding
current pacing for the quarter ending June 30, 2010 is based on
committed purchases of advertising for the quarter as of the date
of this press release. Actual revenues for the quarter ending June
30, 2010 will depend on a variety of factors and could be less or
more than the level indicated by current pacing.
Because of the preliminary nature of the first quarter revenue
information and the unpredictability of pacing for the remainder of
the second quarter, investors should use caution in relying on the
information contained in this press release. Further, investors
should not draw any inferences from the information contained in
this press release regarding financial or operating data that is
not discussed herein.
LIN TV plans to report its first quarter 2010 earnings results
before the market opens on April 22, 2010 and to hold a conference
call to discuss those results on April 22, 2010. More information
about the conference call, including dial-in and replay
information, will be provided in a press release prior to the
reporting of its first quarter 2010 earnings results.
Forward-Looking
Statements
This press release includes forward-looking statements. We have
based these forward-looking statements on our current expectations
and projections about future events. Forward-looking statements
include information preceded by, followed by, or that includes the
words “guidance,” “believes,” “expects,” “anticipates,” “could,” or
similar expressions. For these statements, the Company claims the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this press release,
concerning, among other things, net revenues and other revenue
results we expect to report for the first quarter of 2010 and
pacing for the second quarter of 2010, involve risks and
uncertainties, and are subject to change based on various important
factors, including the impact of changes in national and regional
economies, successful integration of acquired television stations
(including achievement of synergies and cost reductions), pricing
fluctuations in local and national advertising, future regulatory
actions and conditions in the television stations’ operating areas,
competition from others in the broadcast television markets served
by the Company, volatility in programming costs, the effects of
governmental regulation of broadcasting, industry consolidation,
technological developments and major world news events. Unless
required by law, we undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. In light of these risks, uncertainties
and assumptions, the forward-looking events discussed in this
report might not occur. You should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this report. For more details on factors that could affect these
expectations, please see our filings with the Securities and
Exchange Commission.
About LIN TV
LIN TV Corp., along with its subsidiaries, is a local
multi-media company that owns and/or operates 28 network-affiliated
broadcast television stations and interactive television station
and niche web sites in 17 U.S. markets. LIN TV’s online advertising
business, RMM, leverages unique technology, new product innovation
and customized interactive and mobile advertising solutions to
deliver measurable results to local, regional and national
clients.
LIN TV is traded on the New York Stock Exchange under the symbol
“TVL”. Financial information about the company is available at
www.lintv.com.
Lin TV (NYSE:TVL)
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