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Emmis earnings signal improving radio business

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Emmis Communications Corp. turned a profit in its latest fiscal quarter, rebounding from a big loss in the same period of the previous year.

The Indianapolis-based media company said Wednesday that it earned $4.3 million, or 11 cents per share, in the fiscal fourth quarter compared with last year’s quarterly loss of $18.2 million, or 47 cents a share.

Overall revenue for the quarter, which ended Feb. 28, rose 2 percent, to $43.3 million.

Revenue in its key radio segment rose 3 percent, to $26.5 million. That contrasts to a 15-percent plunge in radio revenue at the same time last year.

For the entire year, profit was $41.9 million compared with $79.5 million in fiscal 2012. Annual revenue fell to $196.1 million compared with $202.2 million the year before.

“For the second year in a row we have significantly outperformed our radio markets and the radio industry. Emmis finished the year as one of the least-levered and most financially sound radio operations in the country,” Emmis founder and CEO Jeff Smulyan said in a prepared statement.

Emmis is the nation’s 9th largest radio holding company, with 21 stations, including WIBC-FM 93.1 in Indianapolis.

Emmis shares fell 6 cents Wednesday, to $1.49 each.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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