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Belo Corp. 3Q net income dips as revenue falls

November 3, 2011

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DALLAS—TV station owner Belo Corp. said Thursday that its third-quarter net income dipped 2 percent as revenue declined.

For the quarter that ended Sept. 30, Belo Corp. earned $13.7 million, or 13 cents per share, compared with $13.9 million, or 13 cents per share, in the year-ago quarter.

Revenue fell 7 percent to $152 million from $164 million a year earlier. In 2010, Belo benefited from political advertising in an election year.

The company expects fourth-quarter revenue to fall "in the low teens" compared with the $206 million it reported in the fourth quarter of 2010.

Belo owns and runs 20 TV stations and their websites, including affiliates of ABC, CBS, NBC, FOX and the CW.

Belo Corp. shares rose 15 cents, or 2.4 percent, to close at $6.44.