Entercom Anticipates Better Q1

Entercom, much like Clear Channel (see story above), is looking for revenues to increase 3 to 5% in the first quarter of this year.
Same-station net revenue at Entercom Communications Corp. fell 1% in the fourth quarter. The company did enjoy a record quarter. Its overall net income was up about 16% to $21.8 million. Net revenues were up 3%.
For the year, Entercom stated, net revenues were up 3% to $401.1 million; its annual numbers for net revenues, station operating income, free cash flow and earnings per share were company records.
David J. Field, president and CEO, said, “We are optimistic on our outlook for 2004 based on positive external and internal factors, led by the recovering economy, growing business confidence, improving station ratings and continuing enhancements in our operating capabilities and execution.”