Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Profits Up 38%


Dallas, Texas 11/11/2013 (Financialstrend) – In news that brought a lot of cheer to investors, Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) announced an increase in 38% profits for the third-quarter.

The resounding revenue earnings for the quarter were due to higher revenues earned through Television advertising. Besides, the bottom-line was further bolstered with higher revenues earned from increase in fees for broadcasting cable TV signals.

Sinclair is one of the big names in Hunt-Valley and posted its earnings for the quarter at $36.6 million. The earning per share was $0.36 and definitely higher than last quarter earnings of $0.32.

Chief Executive Officer of Sinclair, David Smith commented that the results exceed estimated expectation of 23 cents for a share. The increase in earnings was due to the acquisition of Fisher Communication. Additionally, the guidance for the fourth quarter too has been positive, resulting in positive market movement of Sinclair’s shares.

In addition to the acquisition, the increase in the broadcast fees – by a whopping 11% – have definitely led to the strong showing, believe analysts.

Though, technically, it was ‘retransmission’ Sinclair was able to strategize well on this service and earn substantial good earnings.

Besides, political advertising an increasingly attractive advertisement revenue earning segment for Sinclair is the automotive-based content. Additional sectors that have increased their advertising reach are- furniture, grocery, home products as well as media.

Additionally, income came in from the acquisition of other stations – Titan Television Broadcast Group. Moreover, Sinclair is poised to gain other stations, which are currently property of New Age Media at a cost of $90 million.

Senior executives of Sinclair believe that the growth percentage for the company has been sustained due to multi-pronged acquisitions and strategic fees additions. For the next quarter, Sinclair is expected to rework its prospects by improving the local content across its various units and network.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.