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Emmis turns profit despite sluggish radio revenue growth

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Indianapolis-based Emmis Communications Corp. on Thursday reported a profit of $4.3 million in its third fiscal quarter, down 7 percent from the same period last year.

The nation’s 10th-largest publicly held radio broadcaster said revenue of $52.6 million in the quarter ended Nov. 30 was up 3.4 percent from the same period last year, despite this fall's government shutdown and the absence of political advertising that boosted results last year.

Revenue from radio operations grew 0.4 percent, while sales at Emmis’ publishing division, which includes Indianapolis Monthly, jumped nearly 10 percent.

Third quarter operating income—a barometer Emmis prefers because it excludes the effects of debt service—rose 6 percent to $8.7 million.

“This has actually been a very, very encouraging quarter,” Emmis CEO Jeff Smulyan said in a conference call with investors Thursday morning. 

He indicated that the outlook for the radio division was improving in the fourth quarter.

Smulyan said NextRadio, an Emmis-developed mobile app that allows certain Sprint cell phones to pick up radio stations over the air, has exceeded 100,000 activations.

Emmis has led the NextRadio industry initiative, with Smulyan estimating it could eventually generate hundreds of millions of dollars a year in new revenue for radio broadcasters.

Emmis owns 18 FM and 3 AM stations in Austin, Texas; Los Angeles; New York; St. Louis; Terre Haute and Indianapolis. Its local stations include WIBC-FM 93.1 and WLHK-FM 97.1.

Shares of Emmis rose 8 percent in Thursday morning trading, to $3.15 each.

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

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