Sinclair Broadcast Q4 Profit Decreases - Quick Facts

(RTTNews) - Sinclair Broadcast Group, Inc. (SBGI) reported that its fourth-quarter net income to company declined to $2.30 million or $0.02 per share, from $59.00 million or $0.73 per share, last year. The company noted that its net income includes a $42.1 million loss on extinguishment of debt. Excluding this, earnings per share would have been $0.29 for the fourth quarter of 2013.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.33 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased year-over-year to $427.71 million, from $329.52 million. Analysts expected revenue of $413.00 million for the quarter. For the first-quarter, the company expects net broadcast revenues from continuing operations, before barter, to be approximately $366.8 million to $371.2 million. Barter and trade revenue are expected to be approximately $21.5 million.

For full year 2014, the company expects net broadcast revenues from continuing operations, before barter, to be approximately $1.675 billion to $1.695 billion. Barter and trade revenue is expected to be approximately $98.5 million.