Westwood One Revenues, Income Off In Q4
February 24, 2006 at 6:29 AM (PT)
WESTWOOD ONE fourth quarter 2005 revenues fell 3.1$ to $147 million, with local/regional ad revenue off 10.4% but national client revenue up 5.7%. Operating income fell from $51.1 to $44.3 million, with net imcome falling from $29.6 to $24 million (31-27 cents/basic and diluted share).
The company is expecting high single to low double digit decreases in revenie and double digit declines in operating income before depreciation and amortization. It had also previously declared a dividend of 10 cents/share, payable FEBRUARY 28 to shareholders of record as of FEBRUARY 17.