Sinclair Broadcast Group, Inc. (SBGI) reported that its first-quarter net income attributable to the company increased to $27.2 million, from $17.0 million, prior year. Earnings per share was $0.27 compared to $0.21.
On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter. Analysts' estimates typically exclude special items. Net broadcast revenues from continuing operations increased 47.8% to $373.9 million, from $252.9 million, last year. Total revenues increased to $412.65 million from $282.62 million. Analysts expected revenue of $403.27 million for the quarter.
The company expects its second-quarter net broadcast revenues from continuing operations, before barter, to be approximately $396.1 million to $399.6 million.
Sinclair Broadcast Group also announced that its Board has declared a quarterly cash dividend of $0.15 per share on the company's Class A and Class B common stock. The dividend is payable on June 13, 2014, to the holders of record at the close of business on May 30, 2014.
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