Emmis Communications Corporation Announces Unaudited Consolidated Earnings Results for Fourth Fiscal Quarter and Full-Year Ending February 28, 2019
May 09, 2019 at 06:00 am EDT
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Emmis Communications Corporation announced unaudited consolidated earnings results for its fourth fiscal quarter and full-year ending February 28, 2019. For the quarter, the company reported total net revenue of $23,746,000 compared to $30,130,000 a year ago. Operating income was $340,000 compared to loss of $567,000 a year ago. Net loss was $141,000 compared to profit of $12,990,000 a year ago. Basic net loss per common share was $0.04 against earnings of $1.03 a year ago. Diluted net loss per share was $0.04 against earnings of $0.99 a year ago.
For the year, the company reported total net revenue of $114,131,000 compared to $148,487,000 a year ago. Operating income was $40,989,000 compared to $90,797,000 a year ago. Net income was $26,079,000 compared to $84,759,000 a year ago. Basic net income per common share was $1.85 against $6.65 a year ago. Diluted net earnings per share was $1.74 against $6.50 a year ago.
Emmis Corporation (Emmis), formerly Emmis Communications Corporation, is an entrepreneurial company. The Company is an owner and operator of media, sports, entertainment, and other diversified operations. The Company owns and operates Lencore Acoustics, a sound masking technology for professional environments and operates one amplitude modulation (AM) radio station in New York, and an additional frequency modulation (FM) station in New York operated by Entertainment and Sports Programming Network (ESPN). Emmis also owns a controlling interest in Digonex, which provides dynamic pricing solutions to national brands across multiple industries. It also has an investment in Anzu, an intrinsic in-game advertising solution for personal computer (PC), console, mobile, and cloud-based video games.