Growth detailed at Fisher

When Fisher Communications reported 11.1% revenue growth for Q3 (11/8/04 RBR Daily Epaper #218), it didn't provide any breakdown among its units. However, that detail has now been filed with the SEC. Television revenues were up 14.4% to 23.9 million, radio was up 7.3% to 15.4 million and the Fisher Plaza real estate complex saw revenues drop 2.2% to just over one million. Net income from operations was 3.6 million for television, up dramatically from only 412K a year ago, and radio reversed a loss with income from operations of 364K, compared to a 10K loss a year earlier.

"Our Seattle and Portland total television revenues increased 15.7% and 18.5%, respectively, in the third quarter of 2004, as compared to the third quarter of 2003. Revenue from our remaining television stations increased by 15.0% in the third quarter of 2004, as compared to the third quarter of 2003. These increases were primarily attributable to higher political advertising in 2004. Our radio operations showed strong revenue growth in the first nine months of 2004, compared to the first nine months of 2003, primarily as a result of KOMO AM's continuing improved performance in the Seattle market. Excluding revenues specifically attributable to Seattle Radio's continuing agreement with the Seattle Mariners to broadcast baseball games, KOMO AM's revenues increased 62% in the first nine months of 2004, compared to the first nine months of 2003. We attribute the increase primarily to the synergistic effect of the Seattle Mariners programming, as well as the conversion of KOMO AM to an all-news format in September 2002. Miller Kaplan (which excludes sports programming) reported that radio revenues for the Seattle market grew 2.0% during the first nine months of 2004, as compared to the same period of 2003. Total Seattle Radio revenue increased 10.3% in the first nine months of 2004, as compared to the first nine months of 2003. Revenue from our Seattle Radio operations comprised approximately 77% of our total radio revenue in the nine months ended September 30, 2004. In the third quarter of 2004, as compared to the third quarter of 2003, total Seattle Radio revenue increased 8.5%. Again, we attribute the increase primarily to the synergistic effect of the Seattle Mariners programming, as well as our converting KOMO AM to an all-news format in September 2002," Fisher said in its SEC filing.