Emmis Communications rebounds with profitable quarter

  • Comments
  • Print

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.

 

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In