Outdoor Channel Holdings, Inc. announced increases in total revenues of 88.1% and 60.7%, respectively, for the three-and twelve-month periods ended Dec. 31, 2009 due largely to the acquisition of Winnercomm Inc.


Total revenues amounted to $27.0 million for the 2009 fourth quarter, compared with $14.4 million in the corresponding period a year ago. For full year 2009, total revenues were $86.9 million, compared with $54.1 million in the prior year.


Advertising revenue for the 2009 fourth quarter decreased 4.3% to $9.5 million from $10.0 million in the prior-year period. For full year 2009, advertising revenues decreased 6.1 percent to $34.3 million compared to $36.6 million in the prior year.


Subscriber fees totaled $4.4 million for the fourth quarter of 2009 compared to subscriber fees of $4.4 million in the prior-year period. For full year 2009, subscriber fees totaled $18.8 million compared to $17.5 million in the prior year, an increase of 7.7%. The full year increase in subscriber fees is due primarily to increases in rates and the number of subscribers at several service providers.


In January of 2009, Outdoor Channel Holdings acquired certain assets of Winnercomm Inc. and its related entities. The revenues generated by Winnercomm are reported as “Production services.” Production services revenue totaled $13.1 million and $33.7 million during the 2009 fourth quarter and full year period, respectively. These revenues were comprised primarily of production services for customer-owned telecasts and marketing.


“During the fourth quarter, we continued to focus on executing our strategy to build our network, increase our viewing audience and expand our relationships with advertisers and distributors,” said Roger L. Werner, President and Chief Executive Officer.


“While our 2009 revenues at both Outdoor Channel and Winnercomm were impacted by the economic slowdown, we began to see an improvement in the advertising climate during the fourth quarter. Additionally, we have expanded our distribution footprint through a number of tier migrations and new system launches. We have also continued to strengthen our digital offerings, including our web-site, which has enabled us to begin pursuing additional revenue streams that leverage our category-leading content. In the year ahead, we remain focused on continuing to build on our leadership in outdoor content, converting our audience shares into revenues and further improving our cash generation through a disciplined approach to managing our costs. Given our strong balance sheet and profitable results, we also remain well-positioned to prudently pursue acquisitions that will enhance our growth profile to the benefit of our shareholders.”

Outdoor Channel Holdings posted net income of $0.6 million, or $0.02 per diluted share, for the 2009 fourth quarter, compared with net income of $0.5 million, or 2 cents per diluted share, in the prior-year period. For full year 2009, the Company posted a net loss of $0.3 million, or one penny per diluted share compared to a net income of $2.4 million, or 9 cents for the prior-year period.


Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of share-based compensation expense and acquisition and integration costs, amounted to $5.4 million for the 2009 fourth quarter, compared with $3.9 million in the prior-year period. For the legacy Outdoor Channel business, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of share-based compensation expense and acquisition and integration costs, totaled $4.1 million for the 2009 fourth quarter compared to $3.9 million in the prior-year period.


For the full year 2009, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of share-based compensation expense and acquisition and integration costs, totaled $10.7 million compared to $10.9 million in the prior-year period. For the legacy Outdoor Channel business, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of share-based compensation expense and acquisition and integration costs, totaled $12.1 million for the full year 2009 compared to $10.9 million in the prior year.