Urban One, Inc. (UONEK) Reports Q4 EPS of $0.55 on Revenues of $113.5M
- Wall Street slips off record highs, Tesla drops after fatal crash
- IBM (IBM) Tops Q1 EPS by 14c, Revenue Beats
- Tesla's (TSLA) Musk says data logs from crashed vehicle show Autopilot was not enabled, car did not purchase FSD
- Bitcoin (BTC) Price Fell 20% Off the Highs Over the Weekend as Markets Got 'Too Excited' About Coinbase (COIN), Says Mike Novogratz
- GameStop (GME) CEO Gets the Axe as Ryan Cohen Continues to Make His Mark, Analyst Says Co. Will Likely Look to Tech Sector for New Hires
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Urban One, Inc. (NASDAQ: UONEK) reported Q4 EPS of $0.55, versus ($0.18) reported last year. Revenue for the quarter came in at $113.54 million, versus $105.85 million reported last year.
Alfred C. Liggins, III, Urban One's CEO and President stated, "The Company had an extremely strong fourth quarter, driven by record levels of political advertising and strong demand for our digital and cable TV advertising inventory. In combination with ongoing cost controls, this resulted in a 51% increase in Adjusted EBITDA. All of our operating divisions were able to grow Q4 Adjusted EBITDA year-over-year, and I was particularly pleased with the performance of our digital business, which delivered approximately $6.4 million of Adjusted EBITDA for the full year, an increase of 587% from prior year. Year-end liquidity remained robust, with a cash balance of $73.9 million, after fully paying down our ABL facility by $27.5 million. In the first quarter of 2021, we successfully refinanced all tranches of our indebtedness, resulting in a simplified capital structure with significantly extended maturities and a lower average cost of capital. Additionally, we put in place a new 5-year $50 million revolving ABL facility with Bank of America. This puts the Company in a strong position to take advantage of the anticipated economic recovery post COVID-19."
For earnings history and earnings-related data on Urban One, Inc. (UONEK) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Herman Miller (MLHR) to Acquire Knoll (KNL) for $1.8 Billion in Cash in Stock
- American Campus Communities (ACC) Misses Q1 EPS by 2c, Revenues Beat
- Bank Of Marin Bancorp (BMRC) Tops Q1 EPS by 14c
Create E-mail Alert Related CategoriesCorporate News, Earnings, Management Comments
Related EntitiesEarnings, BofA/Merrill Lynch
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!