22 FEB 1. GTN guided for a very big quarter primarily due to ad spending across its networks that "earned significantly more political advertising revenue than previously anticipated." GTN is estimating record political ad spending in Q4 of between $85 and $86 million, beating the previous company record of $57.6 million in 2010 by over 47%. This will bring full year 2012 total revenues to over $400 million compared to the previous record of $346.1 million in 2010. Average analyst estimated EPS is .47/share for Q4 and .91/share for the year. 2013's average EPS estimate of .27/share. Since the political ad spending cycle is a 2 year cycle, it's a good idea to combine the two years and get and get an average to calculate the estimated runrate. 2012 averaged with 2013 yields an estimated average EPS of .59/share, quite high compared to the share price of $3.31 for GTN as I write this. I expect 2013 estimates will get raised and/or beaten as well.