Entercom Posts Q4 Losses
February 22, 2008 at 5:47 AM (PT)
ENTERCOM COMMUNICATIONS late THURSDAY said it swung to a fourth-quarter net loss of $9.36 million, or 25 cents a share, from net earnings of $6.94 million, or 17 cents a share, a year earlier. The latest results were impacted by a non-cash pretax intangible impairment charge of $38.7 million, the company said.
Adjusted income from continuing operations rose to $15.1 million, or 40 cents a share, from $14.6 million, or 37 cents a share, a year ago.
Revenue increased to $120.6 million from $118.3 million a year ago, ahead of the mean analyst estimate of $118.4 million.
Same-station revenue rose less than 1%.
ENTERCOM also said it expects first-quarter same-station revenue to fall in the mid-single digit range versus the year-earlier period.