Radio One: 2Q Not As Bad Than Initially Reported
August 14, 2007 at 3:54 PM (PT)
RADIO ONE has revised its second-quarter results -- upward. The new numbers show that the Net Loss for the three months decreased $1.3 million from the $7.6 million previously reported in the press release to $6.3 million, and the Net Loss for the six months ended June 30, 2007 decreased $1.4 million from $6.9 million to $5.5 million.
Furthermore, diluted earnings per share for the three months ended June 30, 2007 improved from a loss of $(.08) per share previously reported in the press release to $(.06) per share, and the diluted earnings per share for the six months ended June 30, 2007 improved $.01 from $(.07) to $(.06) per share. This correction impacts only the referenced accounts and balance sheet categories and has no impact on cash, operating cash flow or station operating income.