Entercom Communications Corp. Monday reported financial
results for the quarter ended June 30, 2013.
Second Quarter Highlights
- Net revenues for the quarter decreased 3% to $101.2 million
- Station expenses decreased 3% to $65.7 million
- Station operating income decreased 4% to $35.5 million
- Adjusted EBITDA decreased 4% to $30.7 million
- Adjusted net income per share increased 8% to $0.26
- Free cash flow decreased 2% to $18.9 million
David J. Field, President and Chief Executive Officer
stated: “Strong expense management and reduced interest expense enabled Entercom to grow
Adjusted Earnings per Share despite a decline in Revenues for the quarter. Notwithstanding our
disappointing Revenues, we believe that we are well positioned to accelerate our performance later in the year
based on our excellent ratings and our strong competitive position that has been further bolstered by a number of
recent operational and strategic enhancements.
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