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ACKERLEY COMMUNICATIONS' SECOND-QUARTER SALES UP 9 PERCENT; ADJUSTED OPERATING PROFIT UP 65 PERCENT

 ACKERLEY COMMUNICATIONS' SECOND-QUARTER SALES UP 9 PERCENT;
 ADJUSTED OPERATING PROFIT UP 65 PERCENT
 SEATTLE, July 23 /PRNewswire/ -- Ackerley Communications Inc. (AMEX: AK) reported sales for the second quarter ended June 30 were $48.6 million, up 9 percent from $44.6 million a year earlier. For the first half of 1992, the company's sales were $95.6 million, up 3 percent from $93.2 million a year earlier.
 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 second quarter increased 65 percent to $13.5 million from $8.2 million from the previous year. The company's adjusted operating profit for the first six months increased 29 percent to $18.8 million from $14.6 million for the same period in the previous year.
 The company showed a net income applicable to common shares of $3.9 million, or 25 cents per share, for the quarter ended June 30, compared to a net loss of $3.2 million, or 21 cents per share, for the comparable quarter last year.
 The increase in net income was primarily due to improved adjusted operating profit and, to a lesser extent, decreases in depreciation, amortization and interest expenses for the quarter. Through the first six months of 1992, the company reported a net loss applicable to common shares of $0.1 million, or 1 cent per share, compared to a net loss of $8.5 million, or 55 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. Ackerley also owns radio stations WAXY-FM in Ft. Lauderdale, Fla.; KJR-AM and KLTX-FM in Seattle.
 ACKERLEY COMMUNICATIONS
 FINANCIAL HIGHLIGHTS
 (In millions, except per-share amounts)
 Three Months Six Months
 Ended June 30: 1992 1991 1992 1991
 Revenue $48.6 $44.6 $95.6 $93.2
 Adjusted operating profit before
 depreciation, amortization and
 interest expenses 13.5 8.2 18.8 14.6
 Net earnings (loss) applicable
 to common share equivalents 3.9 (3.2) (0.1) (8.5)
 Net earnings (loss) per common
 share and common share
 equivalents 0.25 (0.21) (0.01) (0.55)
 Weighted average number of
 common shares and common
 share equivalents 15.4 15.4 15.4 15.4
 -0- 7/23/92
 /CONTACT: Susan Mortensen of Ackerley Communications, 206-624-2888/
 (AK) CO: Ackerley Communications Inc. ST: Washington IN: ADV SU: ERN


SC-LM -- SE003 -- 2264 07/23/92 08:25 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
Words:500
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