logo
Share SHARE
FONT-SIZE Plus   Neg

Fisher Communications Q4 Profit Surges On Sale Of Fisher Plaza

Fisher Communications, Inc. (FSCI) Thursday reported fourth-quarter net income of $33.1 million or $3.71 per share, compared to $8.3 million or $0.93 per share last year.

The company sold Fisher Plaza in Seattle, Washington, for gross proceeds of $160 million and recorded a pre-tax gain of $40.5 million in the quarter.

Adjusted net income, excluding the after tax impact on the sale of Fisher Plaza, was $6.4 million or $0.72 per share. There was no adjustments in the prior-year quarter.

Revenue for the quarter declined 19 percent to $46.4 million from $57.2 million last year. Net TV revenues increased 9 percent while radio net revenues declined 18 percent from last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Facebook founder and CEO Mark Zuckerberg said he is not running for public office, amid rising speculation that his plans for traveling the U.S. indicated he is gearing up for a future presidential run. Ford Motor Co. (F) announced the replacement of President and CEO Mark Fields with Jim Hackett, who heads its automotive vehicle subsidiary. The company said, Fields, who served Ford for the last 28 years, opted to retire. Hong Kong flag carrier Cathay Pacific Airways Limited announced Monday around 600 job cuts in its head office, reportedly its biggest headcount reduction in almost twenty years. Cathay Pacific will cut around 25 percent of management roles and 18 percent of non-managerial positions at its headquarters.
comments powered by Disqus
Follow RTT