Fisher finally reimbursed for most losses from 2009 data center fire |
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Tenants carry servers out of Fisher Plaza on the morning of the fire. (TechFlash file photo.)
One of the financial notes in Fisher Communications' third-quarter earnings release this morning almost feels like the end of an era.
The Seattle company, the parent of KOMO-TV, says its primary property insurance carrier agreed to pay an additional $2.9 million to cover its losses at the Fisher Plaza data center during the July 2009 electrical fire that knocked several high-profile Internet sites offline.
Combined with previous reimbursements, the new payment covers "substantially all" of the losses sustained by the company during the fire, according to the earnings release.
As of its previous earnings report, Fisher said it had received a total of $2.9 million in reimbursements, so the new payment brings the total to $5.8 million. Fisher previously reported that it incurred $6.8 million in cash expenses related to the fire, including remediation and capital projects.
The fire, later blamed on a malfunctioning bus duct, knocked dozens of websites offline for as much as a day, including high-profile properties such as Microsoft Bing Travel -- providing many of them with a critical lesson in the importance of redundancy and backups.
Fisher overall posted total revenue of $42.2 million for the quarter ended Sept. 30, up 22 percent, and profits of $3.3 million, up from a loss of $4 million in the same quarter last year. The The company credited spending on political campaigns and regular ads.
Also of note: Fisher's net Internet revenue rose 89 percent, to $924,000, during the quarter. The company partners with Bellevue startup DataSphere on online local ads.
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