Gray Updates Guidance for 3rd Quarter 2005 Television Operating Results and Sets Earnings Release Date for November 7, 2005
October 26 2005 - 2:01PM
PR Newswire (US)
ATLANTA, Oct. 26 /PRNewswire-FirstCall/ -- Gray Television, Inc.
(NYSE: GTN; GTN.A) today announced that it has updated previously
issued guidance for its television operating results for the
Quarter ended September 30, 2005. Gray currently anticipates that
its broadcast net revenues for the three months ended September 30,
2005 will approximate $62.3 million matching the "high range"
guidance previously issued on August 8, 2005. Gray currently
estimates that its broadcast operating expenses before
depreciation, amortization and loss on disposal of assets will
approximate $40.0 million matching the previously issued "low
range" guidance. Accordingly, for the three months ended September
30, 2005, broadcast operating profit before charges for
depreciation, amortization and loss on disposal of assets is
currently anticipated to approximate $22.3 million exceeding Gray's
previous expectations that ranged between $21.0 million and $21.9
million. On November 7, 2005, Gray will release its earnings
results for the three and nine months ended September 30, 2005.
Earnings Conference Call Information Gray Television, Inc. will
host a conference call to discuss its third quarter operating
results on November 7, 2005. The call will begin at 1:00 PM Eastern
Time. The live dial-in number is 1-877-888-3855 and the reservation
number is T032801. The call will be webcast live and available for
replay at http://www.gray.tv/. The taped replay of the conference
call will be available at 1-888-509-0081 until November 21, 2005.
Gray Television, Inc. is a communications company headquartered in
Atlanta, Georgia, and currently operates 16 CBS affiliated
television stations, eight NBC-affiliated television stations,
seven ABC-affiliated television stations and five daily newspapers.
DATASOURCE: Gray Television, Inc. CONTACT: Bob Prather, President,
+1-404-266-8333, or Jim Ryan, Chief Financial Officer,
+1-404-504-9828, both of Gray Television, Inc. Web site:
http://www.graytvinc.com/
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