Business News

Triple Crown Media, Inc. Announces Third Quarter 2008 Results

Wednesday 14. May 2008 - Triple Crown Media, Inc. (NASDAQ:TCMI) announces that for the third quarter ended March 31, 2008, total revenues were $10.9 million and a loss from continuing operations was $2.2 million, or ($.41) per share, compared to total revenues of $11.2 million and a loss from continuing operations of $5.2 million, or ($.98) per share, for the third quarter of last year.

For the nine months ended March 31, 2008, total revenues were $35.3 million and a loss from continuing operations was $8.1 million, or ($1.50) per share, compared to total revenues of $36.2 million and a loss from continuing operation of $5.0 million, or ($.96) per share, for the comparable period 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.

“We are extremely pleased that EBITDA for the quarter ended March 31, 2008 increased to $1.9 million from $1.1 million for the comparable quarter of the prior year, an increase of approximately $0.8 million. Year to date EBITDA increased to $6.9 million from $6.4 million for the comparable quarter of the prior year, an increase of approximately $0.5 million. Our publishers and employees have worked extremely hard to maximize revenue and control expenses in our current environment. The newspaper industry is experiencing declines in automotive, help wanted and real estate advertising and the economy as a whole appears to be softening” 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.