Thursday, February 20, 2014

Radio One Reports 4Q Revenue Increased 5.4 Percent

Alfred C. Liggins, III
Radio One, Inc. today reported its results for the quarter ended December 31, 2013.

Net revenue was approximately $111.6 million, an increase of 5.4% from the same period in 2012.  Station operating income1 was approximately $39.1 million, an increase of 9.9% from the same period in 2012. The Company reported operating income of approximately $17.4 million compared to operating income of approximately $14.6 million for the same period in 2012.

Net loss was approximately $16.4 million or $0.35 per share compared to net loss of $17.2 million or $0.34 per share, for the same period in 2012.

Alfred C. Liggins, III, Radio One's CEO and President stated, "Our core radio business remains very robust: excluding political advertising, revenue for our combined radio and Reach Media segments increased approximately 5.0% over Q4 2012. Consolidated net revenue excluding political increased 10.6% over Q4 2012. I was pleased that once again we delivered a double digit increase in Consolidated Adjusted EBITDA2, which increased 10% year over year, and that our Interactive division achieved profitability on an Adjusted EBITDA basis for both the fourth quarter and the full year."

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