Entercom Same-Station Revenue Up 7%

In the first quarter, Entercom Communications said, its revenues were $81 million, an increase of 9% from the same period last year. Station operating income was $29.6 million, an increase of 14%. On a same-station basis for the quarter, net revenues increased 7% and SOI increased 10%.
“The quarter’s net revenues, station operating income and free cash flow represent a record high for the company’s first quarter results,” it stated.
President/CEO David J. Field said, “We continued to outpace the radio industry during the quarter by gaining market share in 15 of our 17 measured markets, enabling us to achieve 7% same station revenue growth. We are also very pleased to post 23% growth in our free cash flow.”
Income before accounting change was $9.3 million, or 19 cents per basic share and 18 cents per diluted share, compared to $5.7 million, or 12 cents per basic and diluted share, last year.
The company also noted the recent passing of Lee Hague, who had served as one of its directors since 1980.