Emmis Communications has reported the results of its fiscal third quarter, which ended November 30, 2013. Radio net revenue was up slightly, by 0.4 percent, while publishing net revenue grew by 9.8 percent. Combined, total revenue was $52.6 million, a 3.4 percent increase over $50.9 million a year earlier.
For its third fiscal quarter, operating income was $8.7 million, up from $8.2 million in fiscal Q3 a year earlier. Emmis' station operating income for the quarter was $13.6 million, up slightly from $13.4 million in the year prior.
"The government shutdown in October, coupled with nonrecurring political revenues from the prior year, caused significant headwinds for us and the radio industry. However, Emmis' ability to grow revenues despite these challenges is a testament to the talent, ingenuity and hustle of the Emmis team," said Jeff Smulyan, President/CEO of Emmis. "Our radio revenues are rebounding in our fourth fiscal quarter as these challenges have abated and our publishing division continues to post impressive revenue gains. NextRadio, the Emmis-led industry initiative to make FM broadcast radio available on mobile phones via a pre-loaded app, continues to gain momentum and recently exceeded 100,000 activations. I'm excited about the progress we are making and the momentum we have heading into calendar 2014."