Entercom Revenues Flat For First Quarter
May 9, 2014 at 8:20 AM (PT)
ENTERCOM COMMUNICATIONS CORP. first quarter net revenues were flat at $78.2 million, but net income rose from a loss of $251,000 to a gain of $1.363 million. Free Cash Flow increased 19% to $4.7 million.
Pres./CEO DAVID J. FIELD said, “I am pleased to report that Free Cash Flow increased 19% for the quarter. First-quarter revenues were up excluding the effect of our non-renewal of BOSTON CELTICS radio broadcasts, despite the unusually challenging winter weather that impacted many of our markets. We are increasingly enthusiastic about the radio industry’s future growth outlook based on a number of recent developments, most notably the release of the NIELSEN CATALINA study which showed radio generating outstanding ROI results across 10 major national brands, significantly outperforming other competitive media.”