Entercom Q1 Revenue Down 2%
May 8, 2013 at 2:17 PM (PT)
ENTERCOM reported a 2% decline in Q1 net revenue in 2012 to $78.4 million. Station expenses decreased 3% to $57.9 million, while Station operating income was flat at $20.5 million. Adjusted EBITDA increased 1% to $15.3 million
"ENTERCOM's first-quarter Adjusted EBITDA grew 1% and Free Cash Flow more than doubled as effective cost management offset a 2% decline in revenues," Pres./CEO DAVID J. FIELD stated. "We continue to focus on investing in our brands, our talent and our digital platforms to strengthen our value proposition to our listeners and customers and bolster our future growth. Industry fundamentals are improving as the pace of industry innovation accelerates and broadcast radio listenership continues to grow within the thriving audio landscape."
Crunch the numbers here.