Regent Q3 Revenues Down 13.9%, Loss Narrows

RADIO ONLINE | , , | :am CT

Regent Communications posted a 13.9% drop in third quarter broadcast revenues to $21.8 million from $25.3 million in 2008. Station operating expenses fell 4.8% to $14.6 million from $15.3 million. The company reported a net loss of $0.4 million (one cent per share) compared with a reported net loss of $46.3 million ($1.19 per share), in the same period last year.

"During the third quarter we continued to execute our strategic plan to expand our presence among advertisers and audiences across our local market footprint, while aggressively controlling our costs," said President/CEO Bill Stakelin. "Our revenue results reflect the weak advertising market nationwide, offset in part by our consistent ability to outperform the overall radio industry and our portfolio of markets."