United TV annual net triples
The company said the record performance was the result of a substantial reduction in operating expenses as well as a modest increase in revenue.
Net revenues for the year increased 2%, to $ 115,127,000, from $ 112,902,000 in the prior year.
After a 17% decrease in programming expenses, operating income was $ 7,853, 000, reversing '91's operating loss of $ 7,278,000.
Dividend and interest income for the year rose to $ 15,102,000 from $ 12,779, 000 in 1991.
The company posted record fourth-quarter net income of $ 8,154,000 (78 cents) , a 145% increase over last year's fourth-quarter net income of $ 3,323,000 (31 cents ).
Net revenues for the quarter increased 1%, to $ 33,509,000 from $ 33,291,000 in 1991.
After a 25% decrease in programming expenses, operating income for the quarter hit a record $ 7,551,000, vs. '91's $ 570,000.
Dividend and interest income for the quarter rose to $ 4,278,000, from $ 3, 403,000 in the prior year.
