UNITED TELEVISION INC. REPORTS FIRST QUARTER RESULTS
UNITED TELEVISION INC. REPORTS FIRST QUARTER RESULTS LOS ANGELES, April 14 /PRNewswire/ -- United Television Inc.
(NASDAQ: UTVI) today announced a first quarter net loss of $2,127,000, or $.20 per share, compared to last year's first quarter net loss of $1,701,000, or $.16 per share.
Net revenues for the 1992 first quarter were $24,923,000, an increase of only 1 percent from last year's $24,748,000, as advertiser demand for television time continued to be adversely affected by the recession. Primarily because of expenses associated with the development of new programming, the company's first quarter operating loss increased 14 percent to $6,155,000 from $5,410,000 last year. Dividend and interest income, net for the quarter was $3,428,000 compared with $2,959,000 last year. UNITED TELEVISION INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations Three Months Ended March 31, 1992 and 1991 (Unaudited - In thousands except per share data) 1992 1991 Net revenues $24,923 $24,748 Operating loss ($6,155) ($5,410) Dividend and interest income, net 3,428 2,959 Loss before income taxes (2,727) (2,451) Income tax benefit 600 750 Net loss ($2,127) ($1,701) Net loss per share ($0.20) ($0.16) Average outstanding common shares 10,556 10,675 -0- 4/14/92 /CONTACT: Garth S. Lindsey, executive VP of United Television, 213-854-0426/ (UTVI) CO: United Television Inc. ST: California IN: ENT SU: ERN
CH-KJ -- LA032 -- 8380 04/14/92 17:16 EDT
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|Date:||Apr 14, 1992|
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