Radio One Reports 4Q Revenue Increased 5.4 Percent

Alfred C. Liggins, III

Radio One, Inc. today reported its results for the quarter ended December 31, 2013.

Net revenue was approximately $111.6 million, an increase of 5.4% from the same period in 2012.  Station operating income1 was approximately $39.1 million, an increase of 9.9% from the same period in 2012. The Company reported operating income of approximately $17.4 million compared to operating income of approximately $14.6 million for the same period in 2012.

Net loss was approximately $16.4 million or $0.35 per share compared to net loss of $17.2 million or $0.34 per share, for the same period in 2012.

Alfred C. Liggins, III, Radio One's CEO and President stated, "Our core radio business remains very robust: excluding political advertising, revenue for our combined radio and Reach Media segments increased approximately 5.0% over Q4 2012. Consolidated net revenue excluding political increased 10.6% over Q4 2012. I was pleased that once again we delivered a double digit increase in Consolidated Adjusted EBITDA2, which increased 10% year over year, and that our Interactive division achieved profitability on an Adjusted EBITDA basis for both the fourth quarter and the full year."