Emmis Communications (EMMS) Reports Q4 Loss of $0.04

Emmis Communications (NASDAQ: EMMS) reported Q4 EPS of ($0.04), versus $0.99 reported last year. Revenue for the quarter came in at $23.75 million, versus $30.12 million reported last year.

"While the fourth quarter didn't finish as strongly as we would have liked, we are seeing significant strength as we commence the new fiscal year. Emmis' first fiscal quarter is pacing up 5%, and ticket and sponsorship sales for Hot 97's Summer Jam, Emmis' largest event which occurs in June, are pacing well ahead of last year," Jeff Smulyan, CEO & Chairman of the Board of Emmis said. "Our renewed focus on digital is bearing immediate fruit, with Q1 digital revenues pacing up 50%. Ratings remain strong across all our brands and I\'m confident that our ratings success will allow us to sustain this growth."

"With the scaling down of NextRadio that occurred last year, coupled with the company\'s recent refinancing, Emmis has one of the best balance sheets in the radio industry, which has been enhanced by our strong operational start to this fiscal year," Smulyan concluded.

For earnings history and earnings-related data on Emmis Communications (EMMS) click here.

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