Regent Down 10.1% In Q4, Down 12.7% For 2009
March 31, 2010 at 5:16 AM (PT)
REGENT COMMUNICATIONS has announced unaudited financial results for Q4 and year ended DECEMBER 31st, 2009.
For Q4 2009, net broadcast revenues decreased 10.1% to $21.3 million from $23.7 million during Q4 2008. For the same period, station operating expenses decreased 5.5% to $14.0 million in 2009 compared to $14.8 million in 2008. The Company reported a net loss of $14.2 million for the quarter, or $0.35 per share, compared with a reported net loss of $75.4 million, or $1.93 per share, in the same period last year.
For the year ended DECEMBER 31st, 2009, net broadcast revenues decreased 12.7% to $84.1 million compared to $96.3 million in 2008. For the same period, station operating expenses decreased 6.7% to $57.3 million in 2009 from $61.4 million in 2008. The Company reported a net loss of $44.0 million for the year ended DECEMBER 31, 2009, or $1.08 per share, compared with a reported net loss of $119.0 million, or $3.06 per share, in 2008.
The Company and its subsidiaries are currently operating as debtors-in-possession under Chapter 11 of the U.S. Bankruptcy Code and are subject to the supervision of the U.S. Bankruptcy Court for the district of DELAWARE. The Company filed its First Amended Joint Plan of Reorganization and its First Amended Disclosure Statement with the Bankruptcy Court on MARCH 22nd, and a confirmation hearing on its Plan is scheduled for APRIL 9th.