Emmis Earnings: Loss Widens as Revenue Falls Again
Emmis Communications Corporation (NASDAQ:EMMS) reported its results for the first quarter. Emmis Communications is a media company with radio broadcasting and magazine publishing operations.
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Emmis Communications Corporation Earnings Cheat Sheet
Results: Loss widened to $4.1 million (13 cents per diluted share) from $2 million (loss of 12 cents per share) in the same quarter a year earlier.
Revenue: Fell 7.1% to $56.8 million from the year-earlier quarter.
For four consecutive quarters, revenue has fallen. Revenue declined 11.7% to $50.9 million in the fourth quarter of the last fiscal year. The figure fell 10.8% in the third quarter of the last fiscal year from the year earlier and dropped 3.3% in the second quarter of the last fiscal year from the year-ago quarter.
Cost of sales dropped to $46.8 million, down 5% from the year-earlier quarter. Last quarter, cost of sales was 82.5% of revenue versus 80.7% a year earlier.
Competitors to Watch: Cumulus Media Inc., Entercom Communications Corp., Townsquare Media, Inc., Radio One, Inc., Salem Communications Corp, Saga Communications, Inc., Beasley Broadcast Group, Inc., Westwood One, Inc., Grupo Radio Centro SAB de CV, and CBS Corporation.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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