Entercom Q4 Revenues Up
February 26, 2007 at 5:34 AM (PT)
ENTERCOM fourth-quarter 2006 net revenues rose 14% year-to-year to $118.5 million, but net income fell from $15.771 million to $6.935 million (35 to 18 cents/common share). Same-station net revenues increased 7% to $111.4 million.
Pres./CEO DAVID FIELD said, "I am very pleased to report that ENTERCOM delivered excellent fourth-quarter results, highlighted by a 7% increase in same-station net revenues and double-digit growth in same-station operating income. Our growth was broad-based, with strong performances across virtually all of our markets. For 2007, we remain highly focused on creating shareholder value by investing in compelling new brands and our digital platform; returning large amounts of free cash flow to our shareholders; and capitalizing on the growth potential of our recent acquisitions and station exchanges."
The company projects first-quarter same-station net revenues and operating expenses to increase in the low single digits.