Radio One (ROIAK) Announces Preliminary Q4 Sales Results, Offers Q1 Outlook
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Financial Fact:
PROVISION FOR (BENEFIT FROM) INCOME TAXES: 4.31M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
PROVISION FOR (BENEFIT FROM) INCOME TAXES: 4.31M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Radio One, Inc. (NASDAQ: ROIAK) today reported certain preliminary revenue information for the quarter ended December 31, 2011.
Giving effect to the consolidation of TV One, consolidated net revenue increased approximately 37% compared to the same period in 2010. Revenue for the Company's core radio business, excluding Reach Media, decreased approximately 9.4% compared to Q4 2010, while Reach Media's revenue increased approximately 13% and the internet segment's revenue increased approximately 30%.
Giving effect to a pro-forma consolidation of TV One, Q4 2011 consolidated net revenue was down approximately 2% compared to Q4 2010. Fourth quarter 2011 local radio revenues decreased approximately 4% and national radio revenues decreased approximately 22% compared to Q4 2010. The markets in which we operate radio stations were down approximately 3.8% for the quarter versus Q4 2010.
Looking at current pacings for Q1 2012, the core radio business revenue is currently up approximately 6%, TV One's revenue is currently up mid single digits, Reach Media's revenues are expected to be broadly flat compared to Q1 2011 and our internet segment is currently up approximately 40% compared to Q1 2011. Given these trends, we are expecting a strong consolidated first half performance, and anticipate remaining in compliance with the various covenant tests contained within our credit agreement for the foreseeable future.
The company will release its full fourth quarter 2011 earnings statement on March 15, 2012 and will hold a conference call at 10:00 AM EDT on that date to discuss the earnings in more depth.
Giving effect to the consolidation of TV One, consolidated net revenue increased approximately 37% compared to the same period in 2010. Revenue for the Company's core radio business, excluding Reach Media, decreased approximately 9.4% compared to Q4 2010, while Reach Media's revenue increased approximately 13% and the internet segment's revenue increased approximately 30%.
Giving effect to a pro-forma consolidation of TV One, Q4 2011 consolidated net revenue was down approximately 2% compared to Q4 2010. Fourth quarter 2011 local radio revenues decreased approximately 4% and national radio revenues decreased approximately 22% compared to Q4 2010. The markets in which we operate radio stations were down approximately 3.8% for the quarter versus Q4 2010.
Looking at current pacings for Q1 2012, the core radio business revenue is currently up approximately 6%, TV One's revenue is currently up mid single digits, Reach Media's revenues are expected to be broadly flat compared to Q1 2011 and our internet segment is currently up approximately 40% compared to Q1 2011. Given these trends, we are expecting a strong consolidated first half performance, and anticipate remaining in compliance with the various covenant tests contained within our credit agreement for the foreseeable future.
The company will release its full fourth quarter 2011 earnings statement on March 15, 2012 and will hold a conference call at 10:00 AM EDT on that date to discuss the earnings in more depth.
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