Q4 Off Slightly For Regent, Year 2007 Revs Up
March 5, 2008 at 5:28 AM (PT)
REGENT COMMUNICATIONS announced financial results for the quarter and 12 months ended DECEMBER 31st, 2007.
For the full year 2007, net broadcast revenues increased 18.4% to $97.9 million compared to $82.7 million in the same period of 2006. For the same period, station operating expenses increased 13.9% to $63.1 million in 2007 from $55.3 million in 2006. The Company reported a net loss of $102.6 million for the full year 2007, or $2.68 per share, compared with a reported loss of $26.6 million, or $0.67 per share, in 2006. Results for the full year and fourth quarter of 2007 include a pre-tax non-cash impairment charge of approximately $163.6 million and for the full year and quarter of 2006 a pre-tax non-cash impairment charge of $48.4 million (including $4.7 million reclassified to discontinued operations), related to the Company's annual review of its indefinite-lived intangible assets.
For the fourth quarter of 2007, net broadcast revenues decreased slightly to 24.9 million in 2007 from $25.0 million in 2006 and station operating expenses decreased 1.4% to $15.3 million in 2007 from $15.5 million in 2006. The Company reported a net loss of $103.1 million for the quarter, or $2.69 per share loss, compared with reported net loss of $29.5 million, or $0.77 per share, in the same period last year.