Emmis Q3 Net Radio Falls 10.6%, Earnings Surge

RADIO ONLINE | Thursday, January 12, 2012 | 6:30pm CT

Emmis Communications reported a fiscal third quarter net revenues of $59.3 million as compared with $66.3 million in 2011. Radio net revenues fell 16.8% to $39.7 million from $47.8 million. The three stations in Chicago and New York produced LMA fees of $0.3 million monthly, but did not record advertising sales. Radio's station operation expenses grew 4.7% to $32.5 million from $31 million.

The broadcaster posted net earnings of $113.4 million ($2.90 cents per share) as compared to $1.6 million (14 cents per share) in the year ago period.