THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Gray TV 1Q loss narrows on higher ad revenue

Email|Print|Single Page| Text size – +
May 9, 2008

ATLANTA—Gray Television Inc.'s first-quarter loss narrowed as higher political and online advertising boosted revenue, the television station operator said Friday.

Gray reported a loss of $3.9 million, or 8 cents per share, after posting a loss of $11.3 million, or 24 cents per share, in the year-ago period.

The loss was narrower than the 10 cents per share expected by analysts in a Thomson Financial poll.

Revenue rose 2 percent to $71 million from $69.7 million, boosted by higher political and online advertising. The company said its Web traffic rose after it posted more local content and promoted the sites more.

Analysts expected revenue of $70 million.

Gray TV shares rose 1 cent to $4.07 in midday trading.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

more stories like this

  • Email
  • Email
  • Print
  • Print
  • Single page
  • Single page
  • Reprints
  • Reprints
  • Share
  • Share
  • Comment
  • Comment
 
  • Share on DiggShare on Digg
  • Tag with Del.icio.us Save this article
  • powered by Del.icio.us
Your Name Your e-mail address (for return address purposes) E-mail address of recipients (separate multiple addresses with commas) Name and both e-mail fields are required.
Message (optional)
Disclaimer: Boston.com does not share this information or keep it permanently, as it is for the sole purpose of sending this one time e-mail.