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Entercom Reports Q4 Net Revs Down 2%
February 11, 2014 at 6:58 AM (PT)
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ENTERCOM COMMUNICATIONS has reported financial results for the quarter ended DECEMBER 31, 2013.
Fourth Quarter Highlights
- Net revenues for the quarter decreased 2% to $99.6 million
- Station expenses decreased 1% to $61.3 million
- Station operating income decreased 5% to $38.3 million
- Adjusted EBITDA decreased 7% to $32.8 million
- Adjusted net income per share was flat at $0.31
- Free cash flow increased 2% to $22.5 million
Full Year Highlights
- Net revenues for the year decreased 3% to $377.6 million
- Station expenses decreased slightly to $251.8 million
- Station operating income decreased 8% to $125.8 million
- Adjusted EBITDA decreased 9% to $104.9 million
- Adjusted net income per share was flat at $0.79
- Free cash flow decreased 4% to $60.4 million
Pres./CEO DAVID J. FIELD stated, “ENTERCOM’s fourth quarter revenues declined 2% while revenues excluding political advertising posted a 2% increase. 2014 began on a solid note with January revenues up moderately over the prior year. We are optimistic about 2014 performance based on improving sales capabilities and execution, strong ratings and meaningful local growth opportunities.”

