Regent Q4 Revenues Up But Loss Widens
March 2, 2007 at 6:19 AM (PT)
REGENT COMMUNICATIONS fourth-quarter broadcast revenues rose 30.7% to $25.6 million (same-station up 5.5% to $19.5 million), but its net loss widened from $10.7 million to $29.5 million (loss of 26 to 77 cents/share).
"The past year represented a historic period for REGENT COMMUNICATIONS," said President/CEO BILL STAKELIN. "We aggressively moved forward with our strategic plan to realign our portfolio of radio stations, enhance our digital presence, and invest in our brands to strengthen our operating position in each of our markets and improve our growth potential. As a result of our concerted M&A initiatives during 2006, our asset portfolio is now better positioned to drive cash flow growth and create long-term value for shareholders. Entering 2007, we are focused primarily on integrating our newest stations and capitalizing on opportunities to maximize both operating efficiencies and sales opportunities across our platform. We are confident that we will begin to realize tangible gains in 2007 and beyond."
REGENT projects first-quarter net revenue to be between $21.7 million and $22 million and net loss to be 4 cents/share.