If you work at a Nexstar station you will be happy to know that the company is making money hand over first. Don't worry, we're sure they will be sharing all this money with the employees by giving everyone a raise.
Nexstar reported financial results for the fourth quarter and full year ended Dec. 31, 2013, that included an 18.9% gain in net revenue to $138.1 million, up from $116.1 million a year earlier. Fulll-year net revenue grew 32.7%, from $378.6 million to $502.3 million.
Perry A. Sook, Nexstar chairman, president and CEO, commented: “Nexstar’s strong fourth quarter and full year financial results mark the conclusion of another active and successful year of growth for the company. During 2013, we generated record free cash flow, EBITDA, BCF and net revenue, completed or entered into agreements to strategically expand our operating base in accretive transactions to 108 stations, lowered our weighted average cost of capital and strengthened our balance sheet, and initiated the payment of a quarterly cash dividend.