Entercom Communications Corp. Reports First Quarter Results
May 9, 2014

Entercom Communications Corp. has reported its financial results for the quarter ended March 31, 2014.

First Quarter Highlights:
- Net Revenues were flat at $78.2 million
- Station Expenses were flat at $57.8 million
- Station Operating Income was flat at $20.4 million
- Adjusted EBITDA declined slightly to $15.1 million
- Adjusted Net Income per share more than doubled to $0.05
- Free Cash Flow increased 19% to $4.7 million

David J. Field, President and Chief Executive Officer, stated: “I am pleased to report that Free Cash Flow increased 19% for the quarter. First quarter Revenues were up excluding the effect of our non-renewal of Boston Celtics radio broadcasts, despite the unusually challenging winter weather that impacted many of our markets. We are increasingly enthusiastic about the radio industry’s future growth outlook based on a number of recent developments, most notably the release of the Nielsen Catalina study which showed radio generating outstanding ROI results across ten major national brands, significantly outperforming other competitive media.”

During the quarter, the Company launched SmartReach Digital, a new division that will help local businesses navigate the growing universe of digital marketing options. It will focus on designing and implementing fully integrated local digital marketing strategies to help simplify the complex and constantly changing digital marketing landscape for local businesses. SmartReach Digital will offer a number of products and services that enable local businesses to attract, activate and engage targeted leads. SmartReach Digital has rolled out in six of Entercom’s markets as of April 1. Additional markets will be added over the next twelve months.

The Company reduced its outstanding debt by $18.1 million (net of cash) during the quarter. As of March 31, 2014, the Company had $5.9 million in cash and $492.7 million of senior debt and senior notes.




 
Breaking News
Study: Just Over Half Of At Work Listening Goes To Radio
iHeartMedia Names Blaine Jackson PD At WLUB/Augusta
CMG Atlanta Radio Names Jaleigh Long Director of Sales
In Brief - February 21, 2017
February 20, 2017
Study: Radio Dominates In Connected Cars
February 17, 2017
Study: Women to Radio: I Love You, But….
iHeartMedia Fort Myers Adds New Nighttime On-Air Hosts Lulu & Lala On Y100.1
Entercom Los Angeles Extends KSWD's "Uncle Joe'Benson
February 16, 2017
Study: Who Do Women Love Most – Radio or Pandora?
Prince Streaming Activity Explodes
Kathy Romano To Bring "Her Story" To WBEN/Phiadelphia
February 15, 2017
CBS Corp Revenue Up in 2016, Radio Now "Discontinued Operations"
Z90 "EPIC 48 2.0" Wraps, Includes Meeting Lady Gaga At The Big Game
MIW Radio Group: 2016 Gender Analysis
February 14, 2017
BuzzAngle Music: 2017 GRAMMYs Impact
Universal Music Publishing Group Appoints Walter Jones VP/Creative
The Conclave To Honor John Gehron With Rockwell Award
Report: Millennials Don't Hate Radio
Bob Garrett Memorial Fund
February 13, 2017
Adele Dominates 59th Annual Grammy Awards
Todd "Carson" Zarnitz Named PM Drive Host for KKRZ/Portland & KPWK/Seattle
UMG Relaunches Polygram Entertainment
WRVW/Nashville To Present “Live. Life. Love: A Concert for Suicide Prevention”
CMG Miami Names Michael Baisden Afternoon Drive Host At WHQT
Music News
Fifty Shades Darker Soundtrack Debuts Atop Billboard 200
James Brown's Drummer Clyde Stubblefield Dies
Quick Hits: Katy Perry, Ottawa Bluesfest Lineup
Quick Hits: The Roots Picnic, Ringo Starr & Paul McCartney, Lana Del Rey
Republic Records, ZXL Music & The Grimmie Family To Release New Christine Grimmie Music
Linkin Park Announce New Album, Release Single "Heavy"
Migos Joins With Motown & Capitol Records
Quick Hits: Beyonce, Adele, Metallica, Michael Jackson, OneRepublic
Katy Perry, Ed Sheeran, The Chainsmokers, Shawn Mendes, Noah Cyrus, Bruno Mars Set To Perform At The 2017 iHeartRadio Music Awards
Future Announces New Album Out Friday
Quick Hits: Pitbull, Lorde, G-Eazy, Camila Cabello
Quick Hits: Katy Perry, The Chainsmokers, Chance The Rapper
Prince's Early Catalog Comes to Streaming Services
Metallica Announces WorldWired Tour
Quick Hits: DJ Khaled / Beyoncé / Jay Z, Al Jarreau, WayHome Festival
FMQB NOW

Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!