Business News

Triple Crown Media, Inc. Announces Second Quarter 2008 Results

Wednesday 20. February 2008 - Triple Crown Media, Inc. (NASDAQ:TCMI) announces that for the second quarter ended December 31, 2007, total revenues were $12.5 million and loss from continuing operations was $3.6 million, or ($.75) per share compared to total revenues of $13.0 million and gain from continuing operations of $1.1 million, or $.22 per share for the second quarter of last year. The quarter was adversely affected by a higher tax rate due to the sale of Host Communications.

For the six months ended December 31, 2007, total revenues were $24.4 million and a loss from continuing operations was $5.9 million, or ($1.12) per share compared to total revenues of $25.0 million and gain from continuing operation of $.1 million, or $.03 per share for the comparable quarter last year. The year to date was adversely affected by a higher tax rate due to the sale of Host Communications.

Discontinued operations gives affect to the previously announced disposition of Host Communications, formerly a wholly owned subsidiary of the Company.

“EBITDA for the second quarter of the fiscal year ending June 30, 2008 of $2.9 million was flat compared to the comparable quarter for the prior year. EBITDA year to date was $5.0 million compared to $5.2 for the comparable period last year, the decrease being due to a decrease in advertising revenue and non-cash share-based compensation. Although EBITDA has declined we are pleased that our newspapers are still performing better than most of our peers in the industry. We continue to pursue expense reductions to help offset declines in advertising revenue,” said Robert S. Prather, Jr., President and CEO of Triple Crown Media, Inc.

Triple Crown Media owns and operates six daily newspapers and one weekly newspaper in Georgia.