Entercom Revenues Flat In Q2
August 3, 2012 at 5:44 AM (PT)
ENTERCOM COMMUNICATIONS has reported financial results for the quarter ended JUNE 30th, 2012.
* Net revenues for the quarter were flat at $104.6 million
* Station expenses decreased 5% to $67.6 million
* Station operating income increased 10% to $37.0 million
* Adjusted EBITDA increased 12% to $32.0 million
* Adjusted net income per share decreased 23% to $0.24
* Free cash flow decreased 15% to $19.3 million
Pres./CEO DAVID J. FIELD stated, "I am pleased to report that ENTERCOM generated solid growth in Station Operating Income and Adjusted EBITDA during the second quarter as our ongoing focus on business model reinvention enabled us to expand operating margins. At the same time, our investments in new local brands and content, expanded distribution, enhanced digital platforms, stronger operating systems and sales product development are meaningfully enhancing our competitive position and growth potential. We are increasingly excited about our future opportunities as we continue to deepen our audience engagement and deliver enhanced multi-platform marketing solutions to our customers."