Santa Ana-based Acme Communications Inc. said Tuesday it swung to a profit in the second quarter on lower expenses and solid revenue growth at its TV stations.
The company said its revenue from continuing operations for the second quarter increased 6% to $9.5 million from a year ago.
Net income was $3.8 million in the quarter, versus a loss of $1.8 million a year ago. Acme said its broadcast cash flow was $1.3 million in the quarter, up 50% from a year ago.
The earnings don’t include results from one station that the company sold and another that it plans to sell: KUWB in Salt Lake City, which was sold to Clear Channel Broadcasting for $18.5 million earlier this year; and WTVK in Ft. Meyers-Naples, Fla., which is expected to be sold by the end of the year.
Acme said its operating expenses fell 5% on a decline in program-related payments and promotions.
The company operates eight TV stations in the U.S. All but one of Acme’s stations are WB affiliates. The other is a UPN affiliate.
