February 20, 2013 Contact: Peter D. Thompson, EVP and CFO
FOR IMMEDIATE RELEASE (301) 429-4638
RADIO ONE, INC. REPORTS FOURTH QUARTER RESULTS
Washington, DC: - Radio One, Inc. (NASDAQ: ROIAK and ROIA) today reported its results for the quarter ended December 31, 2012. Giving effect to the consolidation of TV One, net revenue was approximately $105.9 million, an increase of 8.0% from the same period in 2011. Also giving effect to the consolidation of TV One, station operating income1 was approximately $35.7 million, an increase of 0.6% from the same period in 2011. The Company reported operating income of approximately $14.7 million compared to an operating loss of approximately $8.8 million for the same period in 2011. Net loss was approximately $17.2 million or $0.34 per share compared to net loss of $21.5 million or $0.43 per share, for the same period in 2011.
Alfred C. Liggins, III, Radio One’s CEO and President stated, “I was pleased with our Fourth Quarter radio division performance; core radio revenues were up by 11.0% and we outperformed the markets in which we operate by 820 Bps. Normalizing for political revenues, Q4 was +2.9%. Adjusted EBITDA for the Radio Division increased 33% over prior year. Forward pacings for radio remain encouraging, with Q1 currently pacing up mid-single digits ahead of prior year. Fourth Quarter revenues from our Cable Television division increased 6.8% from the prior period, and we were able to absorb additional programming amortization expenses and severance costs, while still delivering approximately $40 million of Adjusted EBITDA for the full year. During the quarter, we reorganized our syndicated programming and syndicated programming sales effort under the experienced and capable management of David Kantor at Reach Media, and I look forward to seeing positive results from that initiative in 2013.”
The following information was filed by Radio One, Inc. (ROIA) on Thursday, February 21, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Radio One, Inc.'s financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed, and by Radio One, Inc..
Ticker: ROIA CIK: 1041657 Form Type:10-K Annual Report Accession Number: 0001144204-13-017773 Submitted to the SEC: Wed Mar 27 2013 12:45:41 PM EST Accepted by the SEC: Wed Mar 27 2013 Period: Monday, December 31, 2012 Industry: Radio Broadcasting Stations