Amid Criticism from Investors, Fisher Reports Solid First Quarter Results

By Andrew Gauthier Comment

Fisher Communications, which has recently been fending off a takeover bid by a group of dissident investors, today reported a solid financial showing in the first quarter.

The Seattle-based company announced that its net TV revenue increased by 9.5%. Excluding political revenue, Fisher saw a 12.3% boost in the quarter, compared to the same period last year.

“Fisher’s successful execution of its strategic plan has continued our business growth by improving ratings, growing revenue share and adding new advertising categories and local solutions,” announced Fisher president and CEO Colleen Brown, who has lately been criticized by investors for her management of the company.

“Our ability to leverage the strength of our core broadcasting assets with technological innovation has put Fisher at the forefront of redefining our industry for the future,” Brown said.

For the fist quarter, Fisher’s core advertising revenue increased 9% on the strength of automotive and pharmaceutical advertising. The company’s internet revenue grew 89% to $1.2 million, or 5.5% of its net TV revenue.