Home URBAN Emmis Announces Accelerating Revenue Growth in First Quarter

Emmis Announces Accelerating Revenue Growth in First Quarter

Emmis_Communications_logo Communications Corporation (NASDAQ: EMMS) today announced results for its first fiscal quarter ending May 31, 2013.

Emmisradio net revenues for the first fiscal quarter were up 6%, from $34.9 million to $36.9 million. Excluding 98.7FM in New York, which is being programmed by espn pursuant to an LMA, radio revenues were up 7%. These results outperformed Emmis‘ local markets in which revenue growth improved 5% during the quarter.

For the first fiscal quarter, operating income increased 536% to $7.0 million, compared to $1.1 million for the same quarter of the prior year. Emmis‘ station operating income for the first fiscal quarter was up 55% to $12.9 million, compared to $8.3 million for the same quarter of the prior year.

Diluted net income per common share from continuing operations for the quarter was $0.08, compared to a diluted net loss per common share from continuing operations of $0.07 for the same quarter of the prior year.

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