Entercom Enjoys A 4% Bump In Q2
July 27, 2010 at 3:15 PM (PT)
ENTERCOM COMMUNICATIONS reported a 4% increase in Net revenues in Q2, generating $105.8 million, Station expenses increased 2% to $68.1 million and station operating income increased 8% to $37.7 million
What's more, same-station net revenues increased 5%, same station expenses increased 2% and same station operating income increased 9% ENTERCOM's EBITDA increased 11% to $33.4 million; free cash flow increased 19% to $26.4 million
"ENTERCOM posted strong operating results in the second quarter as solid revenue growth and margin expansion drove double-digit increases in EBITDA and Free Cash Flow," Pres./CEO DAVID J. FIELD stated. "Looking ahead, we are highly enthusiastic about our future prospects based upon the likelihood of continued economic recovery, the ad market rebound, radio’s excellent audience listening trends and cost effectiveness, secular weakness in certain competitive media, and the impact of our internal digital and business development initiatives. In addition, we should continue to benefit from our strong free cash flow generation that has enabled us to reduce our debt by over $200 million in the past two years."