Lincoln Financial Media Q2 Income Off
August 9, 2006 at 6:13 AM (PT)
LINCOLN FINANCIAL MEDIA second quarter income from operations fell from about $15 million (as JEFFERSON-PILOT COMMUNICATIONS) in 2005 to $119 million this year, with stock options and amortization of merger-related intangible assets blamed for the drop. Revenues for the division hit $57.7 million.
Parent company LINCOLN NATIONAL CORP.'s overall net income rose from $197.9 to $349 million ($1.13-$1.23/diluted share). The company did not disclose radio revenue and income as a separate line; this quarter's SEC quarterly report was the company's first after the merger with and acquisition of JEFFERSON-PILOT.
LFM expects 2006 income to be in the upper $30 million range for the last 9 months of 2006.