Emmis Communications Earnings: Profits Snap Streak of Losses

Emmis Communications Corporation (NASDAQ:EMMS) reported its results for the second quarter. Emmis Communications is a media company with radio broadcasting and magazine publishing operations.

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Emmis Communications Corporation Earnings Cheat Sheet

Results: Reported a profit of $39 million (98 cents per diluted share) in the quarter. Emmis Communications Corporation had a net loss of $6 million or a loss 22 cents per share in the year-earlier quarter.

Revenue: Fell 6.2% to $57.6 million from the year-earlier quarter.

Quoting Management: “Emmis has continued its strong operating performance, with our revenue growth exceeding the revenue growth of our markets in every month this calendar year,” Jeff Smulyan, Emmis Chairman & CEO, said. “Ratings remain very strong. In the month of September, our two most-listened-to stations, Hot97 in New York and Power 106 in Los Angeles, were #1 in their target 18-34 demographic.” “We are actively pursuing a refinancing of our entire capital structure that will dramatically reduce our interest expense and increase our free cash flow going forward,” Smulyan concluded.”Emmis has continued its strong operating performance, with our revenue growth exceeding the revenue growth of our markets in every month this calendar year,” Jeff Smulyan, Emmis Chairman & CEO, said. “Ratings remain very strong. In the month of September, our two most-listened-to stations, Hot97 in New York and Power 106 in Los Angeles, were #1 in their target 18-34 demographic.” “We are actively pursuing a refinancing of our entire capital structure that will dramatically reduce our interest expense and increase our free cash flow going forward,” Smulyan concluded.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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