Emmis Touts ‘Best’ Performance in Industry

Emmis Communications said net revenues were up 4.1% in its first fiscal quarter. Jeff Smulyan trumpeted the news, saying the company’s performance “continues to be the best in the industry in both radio and television.”
Station operating income was $52.7 million, compared to $50.5 million for the same quarter last year, and increase of 4.3%. Operating income was $28.5 million compared to $29.2 million for the same quarter of the prior year.
Net revenue for the quarter was $142.4 million.
Also this week the company complete its acquisition of 50.1% of a six-station radio cluster in Austin, Texas for $105 million, including KLBJ-AM and FM.