Gaylord posts 7.4% increase in 3rd qtr.

Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge.

The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes.

Net operating income increased 14% to $ 25.3 million.

Gaylord posted a 21.4% sales surge to $ 51.4 million in its cable network division, which includes the Nashville Network and Country Music Television’s domestic and European operations. But operating income from the unit slipped 4.7 % to $ 10.7 million as Gaylord upgraded equipment and heavily promoted Country Music TV to 3 million new subscribers.

A healthier advertising market buoyed Gaylord’s broadcast division, where revenue climbed 13.4% to $ 39.1 million and operating income jumped 149.9% to $ 6.8 million.

With flat attendance at its Opryland and other tourist properties, Gaylord’s entertainment division posted a 4.2% drop in earnings. And its cable systems division, which Gaylord put on sale last week, recorded a slight revenue increase and a slight decrease from its third-quarter loss a year ago.

For the quarter, Gaylord earned $ 7.7 million, or 9 cents a share, compared with $ 11.5 million, or 14 cents a share, in the like period a year ago. Earnings per share would have increased a penny without the tax charge. Revenue was $ 196 million, up from $ 180.5 million.

For the first nine months, Gaylord earned $ 12.8 million, or 15 cents a share , compared with $ 20.6 million, or 24 cents a share, in the first nine months of 1992. Revenue was $ 529.5 million, up from $ 483.2 million.

More Biz

  • Los Angeles Women's March

    How to Watch the Los Angeles Women’s March Online

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

  • Lori Mccreary and Gary Lucchesi PGA

    How Harvey Weinstein Drove the PGA to Combat Sexual Harassment on Set

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

  • Bob Bakish, President and CEO of

    Viacom CEO Bob Bakish Earned $20.3 Million in 2017

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

  • Ross Levinson LA Times

    L.A. Times Publisher Placed on Unpaid Leave Amid Sexual Harassment Investigation

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

  • Time Warner

    Judge Indicates Shutdown Won't Delay AT&T-Time Warner Antitrust Case

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

  • LA Times building

    Los Angeles Times Newsroom Votes 248-44 in Favor of Unionization

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

  • Ross Levinson LA Times

    L.A. Times Publisher Ross Levinsohn Under Investigation Following Report Of Sexual Harassment Settlements

    Gaylord Entertainment Co.’s third-quarter revenues climbed 7.4%, largely on the strength of the country entertainment purveyor’s cable networks, even as net income fell 33.5% for a one-time tax charge. The company’s earnings were depressed by a one-time, non-cash increase in its deferred federal income taxes because of the recent increase in corporate taxes. Net operating […]

More From Our Brands

Access exclusive content