The company news release said:
Net revenue for the quarter ended September 30, 2006 grew 16.3% to $63.6 million from $54.7 million in the third quarter of 2005. Income from operations for the three months ended September 30, 2006 grew more than three-fold and totaled $9.8 million compared with $3.2 million in the quarter ended September 30, 2005. The Company recorded a basic and diluted net loss per share of $0.14 for the three months ended September 30, 2006 compared with a basic and diluted net loss per share of $0.31 in the third quarter of 2005. During the third quarter 2006, the Company incurred $0.4 million of non-cash employee stock option expense pursuant to its adoption of SFAS No. 123(R) on January 1, 2006. The Company did not incur any employee stock option expense in the third quarter of 2005.
Broadcast cash flow rose 42.9% to $24.0 million in the third quarter of 2006 compared with $16.8 million in the third quarter of 2005. EBITDA totaled $20.8 million for the third quarter of 2006, a 45.4% increase over the third quarter of 2005, while free cash flow rose to $3.6 million in third quarter of 2006, a $1.2 million increase compared with the third quarter of 2005. "Broadcast cash flow", "EBITDA" and "Free cash flow" are non-GAAP financial measures. For a definition of these measures and reconciliation to GAAP financial results, please see the "Definitions and Disclosure Regarding non-GAAP Financial Information" section and supplemental reconciliation tables at the end of this release.
Third quarter 2006 political advertising revenue was approximately $6.3 million, compared to approximately $0.2 million in the third quarter of 2005. Excluding political advertising, gross local and national advertising revenue for the 2006 third quarter increased by 5.7% compared with the same period in the prior year.
Nexstar owns KSNF in Joplin and KSFX in Springfield and is de facto owner of KODE in Joplin and KOLR in Springfield.