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Regent Sees Record 2002; Expands in Ft. Collins

Regent Sees Record 2002; Expands in Ft. Collins

Regent Communications, which trades on NASDAQ, said net broadcast revenues in the quarter increased 33.4% compared to last year’s Q3, to $18.7 million. Broadcast cash flow increased 42.8% to $6 million.
The company, which targets medium and smaller radio markets, reported net income of $1.8 million for the quarter, or 4 cents per share, compared with a reported net loss of $1 million, or 3 cents per share, in last year. On a same-station basis, net revenue and broadcast cash flow increased 8.4% and 19.8%, respectively.
CEO Terry Jacobs said the company anticipates a record year in 2002. For the first nine months of the year, net broadcast revenues have increased 22.3%.
“The advertising environment in middle-sized markets continues to improve and we are making significant progress in enhancing performance at our developing radio properties,” he said.
Regent also said it launched a classic rock station, KKQZ(FM), in Ft. Collins, Colo. The company now has three FM stations in that market.