Entercom Communications (ETM) Tops Q1 EPS by 2c
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May 2, 2016 8:03 AM EDT
BALA CYNWYD, Pa.--(BUSINESS WIRE)--
Entercom Communications Corp. (NYSE: ETM) today reported financial
results for the quarter ended March 31, 2016.
First Quarter Highlights
Net revenues for the quarter increased 23% to $96.1 million
Station expenses increased 21% to $71.5 million
Station operating income increased 28% to $24.6 million
Adjusted EBITDA increased 32% to $18.3 million
Adjusted net income per share increased 125% to $0.09
Free cash flow more than doubled to $8.1 million...
More
May 2, 2016 8:00 AM EDT
BALA CYNWYD, Pa.--(BUSINESS WIRE)--
Entercom Communications Corp. (NYSE: ETM) today announced that its Board
of Directors has approved the initiation of a dividend program under
which the Company intends to pay a regular quarterly cash dividend to
its common shareholders. The Board declared an initial quarterly cash
dividend of $0.075 per share of Class A and Class B Common stock,
payable on June 15, 2016 to shareholders of record as of the close of
business on May 25, 2016.
David J. Field, President and Chief Executive Officer, stated: The
decision by Entercoms Board of Directors to... More
