Fisher Communications said its third-quarter revenue rose 2.8 percent, but the Seattle TV and radio broadcaster reported a $1 million loss from operations, compared with a $1.7 million profit from operations in last year's third quarter.

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Fisher Communications said its third-quarter revenue was $41.9 million, up 2.8 percent from the same period last year. But the Seattle TV and radio broadcaster reported a $1 million loss from operations, compared with a $1.7 million profit from operations in last year’s third quarter.

Fisher was able to report net income for the quarter of $29.8 million, or $3.41 a share, thanks to an after-tax gain of $31.8 million on its sale of a large block of Safeco stock it had held for decades. Excluding that gain, its net loss would have been $2.1 million in the third quarter of 2008, or 24 cents a share.

The company said it is cutting costs and by year-end will reduce its head count by 8 percent from the end of 2007.