The revenue results for Emmis Communications during its fiscal Q2 2013 were positive, and it also celebrated another positive during the quarter: the debut of its pet NextRadio FM on cell project. But special expenses tamped down its numbers on the profit portion of the ledger.
Net revenues rose from $52.9M to $55M. Radio net revenue was up 3.5%, which Emmis said compares favorably to the 3.3% total gains in the markets in which it operates.
Diluted income per share was also a positive, improving by five cents after posting a two cent loss in the comparable Q2 2012 reporting period.
However, expenses related to the Emmis 2012 Retention Trust, along with legal expenditures regarding its holdings in Hungary, held operation income to $5.7M after the company posted a $7.6M result before.
Station operating income was essentially flat at $13.2M.
President/CEO Jeff Smulyan said, “It was an eventful quarter at Emmis as we heralded the successful launch of NextRadio and continued to outperform our radio markets. Our ability to innovate on behalf of the radio industry, coupled with our focus on delivering successful near-term results, are a testament to the impact our high performing Emmis team can deliver.”
