Urban One, Inc. (UONEK) Reports Q4 EPS of $0.55 on Revenues of $113.5M

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.

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