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
Toy maker Hasbro Inc. (HAS) reported a profit for the fourth-quarter 2015 that grew about 3.5% from last year. Quarterly net revenues increased 13% from the prior year. Both earnings per share and revenue for the quarter beat analysts' expectations. Healthcare plan provider Centene Corp. (CNC) has been executing on its strategic objectives, including margin expansion. With its growing portfolio of integrated health solutions, Centene has a strong presence in government-sponsored healthcare, the highest growth category in the industry. A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The...
comments powered by Disqus
Follow RTT