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Emmis Communications rebounds with profitable quarter

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Emmis Communications Corp. turned in a profitable fiscal first quarter, it announced Thursday, rebounding from a loss in the same period a year ago.

Company shares rose 42 cents, or 23 percent, early Friday morning, to $2.23 each.

The Indianapolis-based media company earned $3.7 million, or 9 cents per share, in the quarter ended May 31, compared with a loss of $5 million, or 13 cents a share, last year.

Revenue rose slightly in the period, from $50 million last year to $50.6 million this year.

Revenue in the key radio segment rose 6 percent, from $34.9 million to $36.9 million. Publishing revenue ticked up slightly, from $14.3 million to $14.8 million.

Emmis owns 21 radio stations, including four locally, and six magazines, including Indianapolis Monthly.

 

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