Entercom Q4 Revenues Off 6%
February 22, 2006 at 8:43 AM (PT)
ENTERCOM fourth quarter revenue fell 6% to $103.7 million and earnings fell 19% to $15.8 million (35 cents/share), but the numbers, affected by the loss of political ads and the RED SOX' WORLD SERIES run in 2004 on WEEI-A/BOSTON, were ahead of most analysts' estimates.
The company predicts first quarter revenue of $90-91 million, with expenses reflecting a legal charge of $1.5 million. ENTERCOM has also announced a regular quarterly cash dividend of 38 cents/share for Class A and Class B common shareholders, payable MARCH 30 to shareholders of record as of MARCH 14.