Emmis Communications Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months November 30, 2017
January 11, 2018 at 06:00 am EST
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Emmis Communications Corporation reported unaudited consolidated earnings results for the third quarter and nine months November 30, 2017. For the quarter, the company reported total net revenues of $35,345,000 against $56,299,000 a year ago. Operating income was $3,932,000 against $23,835,000 a year ago. Income before income taxes was $803,000 against $18,886,000 a year ago. Net loss attributable to the company was $279,000 against net income of $17,676,000 a year ago. Basic net loss per common share was $0.02 against net income per share of $1.46 a year ago. Diluted net loss per common share was $0.02 against net income per share of $1.43 a year ago.
For the nine months, the company reported total net revenues of $118,357,000 against $171,075,000 a year ago. Operating income was $91,364,000 against $37,407,000 a year ago. Income before income taxes was $76,512,000 against $23,142,000 a year ago. Net income attributable to the company was $69,411,000 against $20,697,000 a year ago. Basic net income per common share was $1.46 against $5.63 a year ago. Diluted net income per common share was $1.43 against $5.63 a year ago.
Emmis Corporation (Emmis), formerly Emmis Communications Corporation, is an entrepreneurial company. The Company is an owner and operator of media, sports, entertainment, and other diversified operations. The Company owns and operates Lencore Acoustics, a sound masking technology for professional environments and operates one amplitude modulation (AM) radio station in New York, and an additional frequency modulation (FM) station in New York operated by Entertainment and Sports Programming Network (ESPN). Emmis also owns a controlling interest in Digonex, which provides dynamic pricing solutions to national brands across multiple industries. It also has an investment in Anzu, an intrinsic in-game advertising solution for personal computer (PC), console, mobile, and cloud-based video games.