Emmis Revs Up, Yet A Large Loss Reported For Quarter
July 13, 2011 at 9:03 AM (PT)
EMMIS COMMUNICATIONS has reported rising revenues -- yet a larger loss in its latest financial report. For the quarter ended MAY 31st, EMMIS suffered a loss of $4.5 million (12 cents per share), compared with a loss of $3.9 million, (10 cents per share), during the same period last year.
THE INDIANAPOLIS BUSINESS JOURNAL reports, "Revenue from the company's radio operations grew 2.6%, to $45.3 million, helping overall revenue rise 1.6% from the same quarter in 2010, to $61.1 million."
An EMMIS spokesperson told IBJ that the company, "attributed the bigger loss to higher interest on its debt and increased one-time corporate expenses. The company is trying to shed some of its debt and rework its credit agreements."
"We’re encouraged by what we see," EMMIS CEO JEFF SMULYAN said during a WEDNESDAY morning conference call. "This company now is poised to start being more aggressive because it’s now on the verge of fixing its capital structure."