NetworkNewsBreaks – Emmis Communications Corp. (NASDAQ: EMMS) Posts Fiscal Q4, Full-Year Financial Results

Emmis Communications (NASDAQ: EMMS) recently reported results for its fourth fiscal quarter and full-year ending February 28, 2018. Among other highlights, the company reported radio net revenues for the fourth fiscal quarter of $28.4 million, a decrease of 16% from $34.0 million in the prior year. The company also reported full year radio revenues of $142.9 million compared to $165.1 million in the prior year, demonstrating a decrease of 13%. Including the net proceeds from the company’s recently-finalized sale of its St. Louis radio stations, Emmis has less than $20 million of net credit facility debt outstanding. “In the last 12 months, we have paid down over $120 million of senior debt, leaving us on firm financial footing and providing flexibility as opportunities present themselves,” Emmis Communications CEO and Chairman of the Board Jeff Smulyan stated in the news release. “Ratings for our New York radio stations remain strong, and they are rebounding nicely in Indianapolis. The NextRadio team has done a tremendous job rolling out Dial Report, an industry-wide data attribution platform, and we believe it is uniquely positioned to meet the growing demand for robust analytics and insights into the behaviors of radio listeners.”

To view the full press release, visit http://nnw.fm/p1Fu4

About Emmis Communications Corp.

Emmis Communications is a diversified media company, principally focused on radio broadcasting. Emmis owns 16 FM and 3 AM radio stations in New York, Los Angeles, St. Louis, Austin (Emmis has a 50.1% controlling interest in Emmis’ radio stations located there) and Indianapolis. One of the FM radio stations that Emmis currently owns in New York is operated pursuant to a Local Marketing Agreement by a third party. Emmis also developed and licenses TagStation®, a cloud-based software platform that allows a broadcaster to manage album art, meta data and enhanced advertising on its various broadcasts, developed NextRadio®, a smartphone application that marries over-the-air FM radio broadcasts with visual and interactive features on smartphones, and has introduced the Dial Report to give radio advertising buyers and sellers big data analytics derived from a nationwide radio station network, smartphone usage, location-based data, demographic profiling and listening data. For more information, visit the company’s website at www.Emmis.com.

More from NetworkNewsBreaks

NetworkNewsBreaks – EVIO, Inc. (EVIO) Posts Fiscal Q2 2018 Financial Results NetworkNewsBreaks – Pivot Pharmaceuticals Inc. (CSE: PVOT) (OTCQB: PVOTF) (FRA: NPAT) Subsidiary Enters Manufacturing and Supply Agreement in California NetworkNewsBreaks – Marijuana Company of America, Inc. (MCOA) JV Completes Setup of 10,000 sq. ft. Greenhouse Space

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

More News From Money - Morning Dispatcher

The Latest: White House says Turkey treated pastor 'badly'

Aug 16, 2018

ANKARA, Turkey — The Latest on Turkey's currency crisis (all times local): 11:15 p.m. The White House says "we won't forget" how Turkey has treated a detained American pastor, after a court rejected his appeal for release. Press secretary Sarah Huckabee Sanders told reporters Wednesday that Andrew Brunson is "a very good person and a strong Christian who's done nothing wrong." She says that Turkey has treated him "very unfairly, very badly." Brunson is at the center of a diplomatic spat between NATO allies Turkey and the United States, which has helped trigger a Turkish currency crisis. Sanders also criticized...

Turkey braces for hard times amid currency crisis, US spat

Aug 16, 2018

ISTANBUL — Some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States — an indication that they are ready to endure economic pain and risk further deterioration in a key, yet troubled alliance dating from the Cold War. "We don't like those who don't like us," said Rifat Tepe, an electronic goods seller in Istanbul who said he will heed a call by President Recep Tayyip Erdogan to stop selling American electronic products. Analysts question the effectiveness of any Turkish boycott of U.S. goods and view Turkey's tit-for-tat taxes...

Turkey increases tariffs on some US goods, escalating feud

Aug 16, 2018

ANKARA, Turkey — Turkey said Wednesday it is increasing tariffs on some U.S. products like cars, alcohol, and coal — a move that is unlikely to have much economic impact but highlights the deteriorating relations with the U.S. in a feud that has already helped trigger a currency crisis . The Turkish government said tariffs on American cars will be doubled to 120 percent while those on alcoholic drinks will be hiked by the same rate to 140 percent. Overall, the duties will amount to $533 million, a relatively small sum meant as retaliation for U.S. President Donald Trump's recent...

Egypt razes historical Cairo district, angering residents

Aug 16, 2018

CAIRO — Egyptian authorities are demolishing a historical 19th century neighborhood in Cairo to make way for high-end housing and business development a stone's throw from the Nile, angering residents who say they have not been properly compensated. The Maspero neighborhood is named for French Egyptologist Gaston Maspero who helped found the Egyptian Museum. Developers have long eyed the central district, which is already home to the Foreign Ministry and the state television and radio building. The neighborhood is part of the modern city built by Khedive Ismail in the 19th century, which was envisioned as a Paris on the...

Modi says India will send manned flight into space by 2022

Aug 16, 2018

NEW DELHI — India will send a manned flight into space by 2022, Prime Minister Narendra Modi announced Wednesday as part of India's independence day celebrations. He said India will become the fourth country after Russia, the United States and China to achieve the feat and its astronaut could be a man or a woman. The space capsule that will transport India's astronauts was tested a few days earlier. Rakesh Sharma was the first Indian to travel in space, aboard a Soviet rocket in 1984. As part of its own space program, active since the 1960s, India has launched scores...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress