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Dienstag, 07.03.2017 12:45 von PR Newswire | Aufrufe: 110

Radio One, Inc. Reports Fourth Quarter Results

Ein altes Radio (Symbolbild). pixabay.com / CC0

PR Newswire

WASHINGTON, March 7, 2017

WASHINGTON, March 7, 2017 /PRNewswire/ -- Radio One, Inc. (NASDAQ: ROIAK and ROIA) today reported its results for the quarter ended December 31, 2016. Net revenue was approximately $113.6 million, an increase of 3.8% from the same period in 2015. Broadcast and internet operating income¹ was approximately $43.1 million, an increase of 5.9% from the same period in 2015. The Company reported operating income of approximately $17.1 million for the three months ended December 31, 2016, compared to an operating loss of $11.3 million for the same period in 2015. Net loss was approximately $3.4 million or $0.07 per share (basic) compared to approximately $24.3 million or $0.50 per share (basic) for the same period in 2015.

Alfred C. Liggins, III, Radio One's CEO and President stated, "Political advertising helped our radio broadcasting segment achieve both revenue and Adjusted EBITDA growth compared to the fourth quarter of 2015. Together with a nice rebound in TV advertising revenue, which was up 18%, this helped drive our 6% growth in consolidated Adjusted EBITDA. During the fourth quarter we booked our first income from MGM National Harbor, which had a strong opening in December. Overall I was pleased with our performance for the year, which was towards the upper end of EBITDA guidance. First quarter radio revenues have been understandably soft, given the political comps from 2016, and we are currently pacing down approximately 5%. While we expect both Radio and Reach Media to struggle against tough comps in the first quarter, our TV business and MGM investment should offset these declines, and we will be able to grow our Adjusted EBITDA again in 2017. TV One's ratings are rebounding from last year's loss of Martin, and for fourth quarter total day households were up 2% and Persons 25-54 were up 3% compared to Q4 2015. The positive ratings momentum is continuing into the first quarter of 2017, where we are up 7% and 5% in total day households and Persons 25-54, respectively."

RESULTS OF OPERATIONS

Three Months Ended December 31,

Year Ended December 31,

ARIVA.DE Börsen-Geflüster

Kurse

Radio One

0,00%

Radio One A

0,00%

2016

2015

2016

2015

STATEMENT OF OPERATIONS

(unaudited)

(unaudited, as reclassified²)

(unaudited)

(as reclassified²)

(in thousands, except share data)

NET REVENUE

$ 113,556

$ 109,384

$ 456,219

$ 450,861

OPERATING EXPENSES

Programming and technical, excluding stock-based compensation

37,211

35,743

134,000

134,410

Selling, general and administrative, excluding stock-based compensation

33,252

32,962

147,599

151,359

Corporate selling, general and administrative, excluding stock-based
compensation

15,107

14,996

47,532

47,252

Stock-based compensation

1,091

1,312

3,410

5,107

Depreciation and amortization

8,524

9,010

34,247

35,355

Impairment of long-lived assets

1,287

26,666

1,287

41,211

Total operating expenses

96,472

120,689

368,075

414,694

Operating income (loss)

17,084

(11,305)

88,144

36,167

INTEREST INCOME

214

102

INTEREST EXPENSE

20,148

20,418

81,636

80,038

(GAIN) LOSS ON RETIREMENT OF DEBT

(2,646)

7,091

OTHER (INCOME) EXPENSE, net

(852)

(30)

(928)

216

(Loss) income before provision for (benefit from) income taxes and
noncontrolling interest in (loss) income of subsidiaries

(2,172)

(31,659)

10,296

(51,076)

PROVISION FOR (BENEFIT FROM) INCOME TAXES

1,315

(7,853)

9,580

15,058

CONSOLIDATED NET (LOSS) INCOME

(3,487)

(23,806)

716

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