Regent Q2 Revenue Up Slightly, Net Income Off
August 7, 2006 at 7:05 AM (PT)
REGENT COMMUNICATIONS second quarter revenue rose 0.3% from $22.7 to $22.8 million (same station also up 3%) but free cash flow dropped 16.4% to $3.5 million and net income fell from $2.2 to $2 million (5 cents/share).
"We delivered second quarter results ahead of the industry and in line with our expectations," Pres./CEO BILL STAKELIN said in a press release. "The environment remains challenging, but we are implementing a concerted strategy to strengthen our station clusters and support our growth outlook over the long-term. In addition to investing in our content, sales and digital distribution, we recently entered into several strategic transactions with the goal of maximizing the value of our assets and improving upon our competitive position. At the same time, we have continued to operate our business as efficiently as possible with the goal of preserving our profitability."