Operating Income increased 33.0% to $8.4 million. Station operating expense increased 0.4% to $26.0 million (station operating expense includes depreciation and amortization attributable to the stations). Free cash flow increased 12.1% to $7.6 million. Same Station net revenue increased 2.9% to $36.1 million and same station operating expense was flat at $25.4 million. Net income for the fourth quarter was $4.9 million ($0.84 per fully diluted share compared to $0.63 for the same period last year).
Net Revenue increased 7.3% to $142.6 million for the twelve months ended December 31, 2016. Free cash flow increased 13.5% to $24.5 million. Station operating expense increased 4.4% to $101.5 million (station operating expense includes depreciation and amortization attributable to the stations). Operating income increased 30.7% to $31.5 million. Same Station net revenue increased 3.0% to $134.2 million and same station operating expense increased 0.7% to $95.4 million. Net income for the twelve-month period was $18.2 million ($3.09 per fully diluted share compared to $2.29 for the same period last year).
Capital expenditures were $0.7 million in the fourth quarter compared to $1.1 million for the same period last year and $4.9 million for the twelve-month period compared to $5.5 million last year. The Company expects to spend approximately $5.0 million to $6.0 million for capital expenditures during 2017.
No comments:
Post a Comment