New York -- Increased advertising and affiliate revenue
helped to fuel gains at USA Network and Sci-Fi Channel, as parent company USA Networks
Inc. lost $6.1 million in the third quarter, 20 percent less than a year ago.
USA Networks reported that revenues for the quarter ended
Sept. 30 stood at $638.7 million, up 7.6 percent from $593.6 million in 1997. For the
nine-month period, USA Networks reversed last year's losses of $34.3 million, showing
a $30.6 million profit in 1998.
Revenue at the network and studios division, which includes
the cable networks, rose by 10 percent in the quarter, from $255.8 million to $281.3
million. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased
by 35.4 percent during the third quarter, to $71.4 million.
The company said the network division benefited from the
absence of some programming write-offs that impacted it a year ago. Higher ratings at USA
and an 11 percent rise in Sci-Fi's distribution also contributed, the company said.
The electronic retailing segment, which includes Home
Shopping Network, also posted substantial quarterly gains in revenue, with sales
increasing 11.5 percent to $256.2 million. The unit's EBITDA in the quarter rose 26.5
percent, to $45.1 million.
In the nine-month period, revenue increased by 4.7 percent
to $758.9 million, and EBITDA fell by 3 percent to $119.5 million.