Emmis Communications reported its net radio revenues were up 3.5% in its second fiscal quarter.
Publishing net revenues were up 5.7% for the quarter. Total revenues for the quarter were $55 million, compared to $52.9 million in the same quarter of the prior year.
For the second fiscal quarter, operating income decreased to $5.7 million from $7.6 million for the same quarter of the prior year due to higher noncash compensation expense, principally due to Emmis’ 2012 retention trust, and higher legal costs related to the company’s Hungarian claim. Emmis’ station operating income for the second fiscal quarter was flat compared to the same quarter of the prior year at $13.2 million.
“It was an eventful quarter at Emmis,” said Emmis President/CEO/Chair Jeff Smulyan as he noted the NextRadio launch and said the company continued to “outperform our radio markets.”