LIN TV reports its 1Q net profit at $20.7M

PROVIDENCE – For the quarter ended March 31, LIN TV Corp. reported net income of $20.7 million or 42 cents per diluted share, compared with a loss of $4.3 million or 9 cents per diluted share in the first quarter of 2006.
Net revenue for the television station owner and operator increased 3 percent to $93.1 million as growth in station market-share, local advertising, digital revenue and the acquisition of KASA-TV in Albuquerque offset decreases in national and political advertising. Internet-only revenue increased 57 percent.
The company credited income from the $131.9 million sale of its Puerto Rican operations together with an increase in new business revenue and a decrease in station operating costs.
LIN TV, parent of Providence’s WPRI-TV and WNAC-TV, owns and operates 29 TV stations in 17 mid-size markets.