Fisher Still Losing, but Much Less than A Year Ago

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Friday, April 28, 2006Radio & RecordsFisher 'Very Encouraged' By Q1 Results Fisher's loss narrowed to $1.7 million (20 cents per share) from a net loss of $5.1 million (59 cents) in Q1 2005. The Seattle-based radio and TV group said revenue increased 9%, to $33.8 million. Fisher owns 27 radio stations in Washington and Montana. "We gained solid revenue and net operating improvements in the first quarter of 2006, especially in our large-market ABC-affiliated television stations and our Seattle radio stations," said Fisher President/CEO Colleen B. Brown. "Though the first quarter of the year is generally seasonally lower in the broadcasting industry, we are very encouraged by our first quarter 2006 results and look forward to the remainder of the year." TV revenue increased $2 million, or 10%, in Q1, while radio revenue increased $600,000, or 7%. The company said the revenue increases occurred in both local and national revenue categories. Revenue in Fisher Plaza, the company's real estate division, increased 13%, the result of increased occupancy and services fees. — Jeffrey Yorke, R&R Washington, DC Bureau Chief