ACME Communications is telling Wall Street to expect Q3 revenues to be up 1-2% after posting a Q2 gain from continuing operations of 4% to $8.7 million. The improvement was driven by a 3% revenue gain at the ACME stations and 10% at the syndicated “The Daily Buzz.” Broadcast cash flow jumped 23% to $936,000.
"We are pleased to report a net revenue gain during a quarter where most broadcasters experienced year-over-year declines. Looking ahead, overall advertising demand, apart from political spending, remains weak reflecting the economic slowdown. However, we believe significant political spending in several of our markets will allow us to increase our share of non-political dollars, especially in the fall. Given the current environment, we are also focused on reducing station and corporate expenses, while prudently supporting our ability to maximize revenues. Despite a continued difficult M&A market, we continue to pursue all options for monetizing our station assets in the best interest of our shareholders," said CEO Jamie Kellner.