• by Wayne Friedman , November 2, 2010

E.W. Scripps' third-quarter financial results follow a similar pattern for those media companies with TV stations: booming national TV spot sales, lesser numbers for local TV spot sales. 

For its third quarter, national TV spot grew a big 25% to $20.1 million, while local TV spot sales climbed 25% to $37.6 million. Much of its national growth was driven by a big automotive category, up 70%.

The company said this was a positive for autos and other advertising -- especially considering that many political commercials have been preempting consumer brand advertising. Political was $14.8 million, compared with $1.7 million in the 2009 quarter.

Retrans and online dollars are growing, as network compensation is sinking. Network compensation was less than $100,000, compared with $1.9 million in the same period a year ago. Revenue from retrans consent agreements was at $3 million -- a 66% gain. Online revenue was at $2 million -- 35% more than a year ago.

Overall, Scripps says TV revenues improved 31% to $78.5 million versus a year ago, and 2% more than in the 2008 presidential election year, when it was $76.9 million. Net profits at its TV station group were $17.7 million in the third quarter -- almost six times that of its $3.1 million profit number in 2009.

Scripps says growth will continue, forecasting that television ad revenues will grow 35% to 40% in the fourth quarter. The company expects political revenues to double to around $28 million during the period.

However, its newspaper business continues to sink -- down 3.8% to $100 million, with ad revenue off 6.8% to $68.3 million. Profits have slipped to $6.6 million, compared with profit of $10.9 million in the third quarter of 2009.

In total, company revenues gained 8.6% to $184 million, an increase of 8.6% from $169 million in the year-ago quarter. Scripps reported a net loss from continuing operations before income taxes of $34,000 compared with a loss of $6.9 million in the 2009 quarter.