Radio One Revenues Up 5.4% In Q4 2013
February 20, 2014 at 3:57 AM (PT)
RADIO ONE has reported its results for the quarter ended DECEMBER 31st, 2013. Net revenue was approximately $111.6 million, an increase of 5.4% from the same period in 2012. Station operating income was approximately $39.1 million, an increase of 9.9% from the same period in 2012.
The Company reported operating income of approximately $17.4 million compared to operating income of approximately $14.6 million for the same period in 2012. Net loss was approximately $16.4 million or $0.35 per share compared to net loss of $17.2 million or $0.34 per share, for the same period in 2012.
CEO/Pres. ALFRED C. LIGGINS, III stated, "Our core radio business remains very robust: Excluding political advertising, revenue for our combined radio and REACH MEDIA segments increased approximately 5.0% over Q4 2012. Consolidated net revenue excluding political increased 10.6% over Q4 2012. I was pleased that once again we delivered a double-digit increase in Consolidated Adjusted EBITDA, which increased 10% year over year, and that our Interactive division achieved profitability on an Adjusted EBITDA basis for both the fourth quarter and the full year."