Station operating expense was $26.4 million (station operating expense includes depreciation and amortization attributable to the stations) compared to $23.6 million for the same period last year. The $2.8 million increase was primarily due to an accrual attributable to the Company's expectations of entering into license agreements in the fourth quarter of 2014 which are currently under negotiation.
Operating income from continuing operations was $5.7 million. Net income for the period was $3.3 million ($0.56 per fully diluted share) and free cash flow was $4.9 million.
Net operating revenue for the period ended September 30, 2014 increased 2.0% to $97.6 million compared to $95.7 million for the same period last year. Operating income from continuing operations was $18.2 million. Net income for the period was $10.5 million ($1.80 per fully diluted share) and free cash flow was $14.3 million. Station operating expense was $72.8 million (station operating expense includes depreciation and amortization attributable to the stations).
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