Entercom Q3 Revenues Rise, Income Falls
November 3, 2014 at 7:19 AM (PT)
ENTERCOM third-quarter 2014 net revenues increased 1% to $99.8 million, with adjusted EBITDA off 7% to $24.3 million and net income down from $6.875 million to $6.473 million (18 to 17 cents/share) (adjusted net income down from $7.596 million to $7.297 million, or 20 to 19 cents/share).
Pres./CEO DAVID J. FIELD said, “ENTERCOM’s performance accelerated during the third quarter, highlighted by a robust SEPTEMBER during which revenues increased 7%, up 5% excluding political. Overall, third quarter revenues were up 1.4%, overcoming a weak AUGUST. We continue to focus on working to enhance our value to listeners and customers and to increase our growth potential for the future. To that end, we believe our competitive position, execution, and capabilities have all significantly improved over the past year and should enable enhanced performance in the year ahead.”