Emmis Reports 'Disappointing' Earnings

Posted: Updated:
Jeff Smulyan is CEO of Emmis Communications. Jeff Smulyan is CEO of Emmis Communications.
INDIANAPOLIS -

Indianapolis-based Emmis Communications is reporting a fiscal third quarter net loss of $279,000. In the same period last year, the company reported net income of $17.7 million but says the year-over-year results are not comparable due to the sales last year of several radio stations and publishing assets.

In January 2017, Emmis completed the $4.7 million sale of its four radio stations in Terre Haute. In August, the company sold its Power 106 radio station in Los Angeles to California-based The Meruelo Group for more than $80 million. Emmis also sold four of its publications in a $6.5 million deal in March.

In a news release Thursday, Chief Executive Officer Jeff Smulyan said, "Overall it was a disappointing quarter, but I am encouraged going forward by the ratings trends at our radio stations. This fiscal year, our radio stations have been growing their ratings vis-à-vis our competitors, which should manifest itself in better revenue performance in Q4 and into the next fiscal year."

Smulyan added continuing progress of the company's NextRadio service is another bright spot for Emmis. You can connect to the full fiscal third quarter earnings report by clicking here.

  • Perspectives

    • Is Your Enterprise Ready For Digital Transformation?

      We are living in a historic era with accelerating market and technology disruptions that impact our lives and rapidly change how we do business. Cloud computing, advanced analytics, and digital technologies have the potential to transform how every company interacts with its customer. So, how do businesses keep up and (better yet) stay ahead? Enter the digital CIO. A new breed of CIO is emerging to lead companies through technology changes happening at record pace.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • IDOE Names 'Four Star Schools'

      The Indiana Department of Education has released its list of Four Star Schools for the 2016-2017 academic year. The designation, which has been awarded for the past 30 years, aims to recognize great schools throughout the state. 

    • 'Best Places' in Indiana Reaches Record

      The Indiana Chamber of Commerce has released the 2018 list of Best Places to Work in Indiana. A record 125 companies are being honored this year and more than 50 are first-timers or returning after a year or more off the list. Employers in over two dozen communities are represented and the chamber will unveil the rankings of the Best Places honorees during a May 3 awards dinner at the Indiana Convention Center in downtown Indianapolis.

    • Knowledge Services Moves Ahead with Fishers HQ

      Knowledge Services has selected CitiMark Management Company, and American Structurepoint, to develop and build it's new headquarters in the Green Acres Technology Park in Fishers. Construction on the 80,000 square foot building, adjacent to Navient's headquarters, is set to be complete by the end of 2019, and will provide nearly 400 jobs by 2021.  

    • F&W Moving Engine Line From Mexico to Noble County

      Kendallville-based Flint & Walling Inc. is planning to on-shore some operations to Indiana. The Journal Gazette in Fort Wayne reports the manufacturer is shifting an engine production line from Mexico to Kendallville's former Superior Essex facility that it acquired a year ago. The publication says F&W is investing more than $5 million into renovations and equipment for small sump pump engines that will be used by its parent company, Louisville-based Zoeller Co.

    • Cummins to Design Combat Engines That Elude the Enemy

      The monstrous, larger-than-life military tanks of tomorrow could be powered by Hoosier ingenuity. A recent $47 million defense contract delivers marching orders for Columbus-based Cummins Inc.: develop the next-generation engine to power U.S. combat vehicles, and it must be stronger, but smaller, and elusive to enemies’ efforts to spot it.