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The Temecula-based cable television network reported a profit of $1.4 million in its third quarter, equating to 5 cents per share. The profit came despite a poor advertising environment caused by a recession that has challenged the bottom line for many media companies.
Outdoor Channel had a $2.4 million profit in the same quarter in 2008. In the first nine months of this year, the company has recorded a modest loss of less than $1 million.
"We believe we're in a strong position to grow advertising revenues when conditions improve," Roger Werner, the company's president and chief executive officer, told analysts during a conference call.
The company has been building its base of affiliates over the past few months, beefing up its presence in areas where hunting and fishing shows generally do well. It has also enhanced its deals in major urban markets, including New York City and Detroit.
Most of those deals are with Comcast Corp.
Company officials cited Nielsen Media Research data that said that these new deals have brought Outdoor Channel's viewer count up to 33.1 million cable and satellite homes, although it was not clear whether the new customers helped this quarter's bottom line or will be better reflected in the fourth quarter.
Similarly, Outdoor Channel will probably not see a significant financial boost from the purchase of sports production company Winnercomm Inc. until next year, officials said.
Reach Jack Katzanek at 951-368-9553 or at jkatzanek@PE.com
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