Fisher Communications Inc. (NASDAQ: FSCI) reported a severe second-quarter loss Thursday, citing that the company was negatively affected by the severe advertising slump that has battered the industry.
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The company's net loss totaled $2.1 million, or 24 cents per share. That compares with a year-earlier profit of $63.7 million, or $7.29 per share, when earnings were boosted by the sale of 1.5 million shares in the insurance firm Safeco Corp.
Revenue for the company, which operates radio and broadcast television stations, dropped 30 percent to $32 million from $45.7 million.
Shares in Fisher stock fell 46 cents to $18.98 at Wednesday’s close.
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