Q2 saw total revenues rise 47.3% to $19.2 million for Outdoor Channel Holdings, but that was all due to an acquisition and increased subscriber fees. Ad revenues were down 16.3% to $7.1 million.
“Our second quarter results reflect the impact of the industry-wide challenging advertising environment, offset in part by strong growth in our distribution revenues combined with our focus on cost-controls,” said Roger L. Werner, President and CEO. “Despite the near-term impact of the national advertising market downturn, we have continued to execute our growth strategy in a disciplined and concerted manner and we have entered our seasonally stronger half of the year in solid position. During the quarter, we took additional steps to further strengthen our programming and bolster our category leadership position across multiple distribution platforms. Given our strong brand and track record in delivering highly targeted audiences to our advertising partners, we remain well positioned to grow the value of our business over the long-term,” he added.
Subscriber fees totaled $5.3 million for Q2, up from $4.6 million a year earlier.
In January of 2009, Outdoor Channel Holdings acquired certain assets of Winnercomm Inc. and its related entities. The revenues generated by Winnercomm, now reported as “Production services,” totaled $6.8 million in Q2.
Outdoor Channel Holdings posted a net loss of $0.9 million, or four cents per diluted share, for Q2, compared with net income of $0.3 million, or one cent per diluted share, a year earlier.
