• by Wayne Friedman , March 5, 2009

Small TV station group Nexstar Broadcasting found some big results.

Nexstar witnessed net revenue growth in the fourth quarter of 2008 of 12.3% to $80.3 million--a record--from $71.6 million in the period before. Even better, it moved up to a $5.4 million net income from a $2.6 million net loss in the fourth quarter of 2007.

Broadcast cash flow moved up to $34.7 million from $28.1 million in the fourth quarter of 2007.

These are good results versus other TV station groups. Perry Sook, president/CEO of Nexstar, credits year-over-year increases in political, retransmission consent and e-Media revenues. He said all this offset the impact of the current economy and soft general-advertising environment.

Some financial troubles a year ago had Nexstar looking at "alternatives" in its business strategy--but these did not include a sale of the company. Fourth-quarter political revenue hit $16.6 million and reached $28.0 million for the full year, which the company said was in line with expectations. Nexstar also said its new media digital revenue climbed 100% over 2007 levels. Full-year retransmission consent revenue also climbed--27% to $21.8 million.

In midday trading, Nexstar stock dropped 2.6% to $0.75.