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ACKERLEY COMMUNICATIONS POSTS BEST THIRD QUARTER IN COMPANY'S HISTORY; ADJUSTED OPERATING PROFIT UP 48 PERCENT

ACKERLEY COMMUNICATIONS POSTS BEST THIRD QUARTER IN COMPANY'S HISTORY;
 ADJUSTED OPERATING PROFIT UP 48 PERCENT
 SEATTLE, Oct. 12 /PRNewswire/ -- Ackerley Communications Inc. (AMEX: AK) announced today that its results for the quarter ended Sept. 30, 1992, were the best third-quarter results in the company's 17-year history.
 Adjusted operating profit (defined as net revenue less operating expenses plus other income before depreciation, amortization and interest) -- the "cash flow" by which the company measures its performance -- for the third quarter was $8.3 million, up 48 percent from $5.6 million from the previous year. The company's adjusted operating profit for the first nine months increased 34 percent to $27.2 million from $20.2 million for the same period in the previous year.
 Sales for the third quarter were $39.6 million, up 5 percent from $37.6 million a year earlier. For the three quarters of 1992 the company's sales were $135.2 million, up 3 percent from $130.8 million a year earlier.
 The company showed a net loss applicable to common shares of $0.6 million, or 4 cents per share, for the quarter ended Sept. 30, compared to a net loss of $6.3 million, or 41 cents per share, for the comparable quarter last year.
 The decrease in net loss was primarily due to improved adjusted operating profit combined with decreases in depreciation, amortization and interest expenses for the quarter. Through the first nine months of 1992, the company reported a net loss applicable to common shares of $0.7 million, or 5 cents per share, compared to a net loss of $14.8 million, or 96 cents per share for the comparable period in 1991.
 Ackerley Communications is a multimedia advertising business with interests in outdoor advertising, airport displays, broadcasting and professional sports, specifically the Seattle SuperSonics.
 The company provides display advertisements in more than 130 airport terminals throughout the United States. Its outdoor advertising division services the metropolitan markets of Boston and Worcester, Mass.; Miami, Ft. Lauderdale and West Palm Beach, Fla.; Seattle and Tacoma, Wash.; and Portland, Ore.
 Ackerley's broadcasting properties include television stations KVOS-TV in Bellingham, Wash.; WIXT-TV in Syracuse, N.Y.; KKTV-TV in Colorado Springs, Colo.; KCBA-TV in Salinas and KGET-TV in Bakersfield, Calif. And radio stations KJR-AM and KLTX-FM in Seattle; WAXY-FM in Ft. Lauderdale; and KGON-FM and KFXX-AM in Portland.
 ACKERLEY COMMUNICATIONS INC.
 FINANCIAL HIGHLIGHTS
 (In millions, except per-share amounts)
 Three Months Nine Months
 Period Ended Sept. 30: 1992 1991 1992 1991
 Revenue $39.6 $37.6 $135.2 $130.8
 Adjusted operating profit before
 depreciation, amortization and
 interest expenses 8.3 5.6 27.2 20.2
 Net earnings (loss) applicable to
 common share equivalents (0.6) (6.3) (0.7) (14.8)
 Net earnings (loss) per common
 share and common share equivalents (0.04) (0.41) (0.05) (0.96)
 Weighted average number of common
 shares and common share equivalents 15.4 15.4 15.4 15.4
 -0- 10/12/92
 /CONTACT: Susan Mortensen of Ackerley Communications, 206-624-2888/
 (AK) CO: Ackerley Communications Inc. ST: Washington IN: ADV ENT SU: ERN


LM-JH -- SE001 -- 8732 10/12/92 09:02 EDT
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Publication:PR Newswire
Date:Oct 12, 1992
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