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The cable channel that specializes in hunting and fishing programming reported a net loss of $878,000, or 4 cents a share, in its second quarter. During the same three-month period in 2008, the company made a profit of $271,000.
Company officials said to expect a noticeable upswing in cash flow in the second half of the year, which is stronger for Outdoor Channel and Winnercomm since both are seasonal businesses.
Advertising revenue fell 16.3 percent to $7.1 million during the quarter, which Roger L. Werner, president and chief executive officer, said represented an "across the board malaise and lack of appetite" to advertise.
He described the boat motor business as being "dead in the water, no pun intended," and sellers of other luxury outdoor sporting goods have scaled back advertising.
Outdoor Channel earned about $700,000 more from its subscribers in its second quarter compared to the same period a year ago. Werner said a renewed contract with Time Warner Cable in May places the channel in a different tier offered to subscribers, and a deal to be carried on Comcast should bring in more than 600,000 subscribers this year.
Based on Nielsen Media Research estimates, the cable channel has 30.4 million subscribers.
Production and operating costs increased from $1.2 million in the second quarter of 2008 to $8.3 million this year largely because of the acquisition, but company officials credited Winnercomm with boosting overall revenue by 47.3 percent.
Reach Kimberly Pierceall at 951-368-9552 or kpierceall@PE.com
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