Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Net broadcast revenue $ 45,895 $ 44,793 $ 136,224 $ 132,929
Net Internet revenue 7,800 6,686 23,269 19,168
Net publishing revenue 3,024 3,024 9,136 9,009
Total revenue 56,719 54,503 168,629 161,106
Operating expenses:        
Broadcast operating expenses exclusive of depreciation and amortization shown below (including $324 and $334 for the three months ended September 30, 2011 and 2012, respectively, and $972 and $993 for the nine months ended September 30, 2011 and 2012, respectively, paid to related parties) 30,628 29,198 90,289 86,054
Internet operating expenses exclusive of depreciation and amortization shown below 5,825 5,080 17,858 15,457
Publishing operating expenses exclusive of depreciation and amortization shown below 2,980 2,890 8,951 8,541
Corporate expenses exclusive of depreciation and amortization shown below (including $53 and $35 for the three months ended September 30, 2011 and 2012, and $379 and $235 for the nine months ended September 30, 2011 and 2012, respectively, paid to related parties) 4,643 4,285 14,314 13,040
Depreciation 3,083 3,099 9,150 9,398
Amortization 494 633 1,625 1,835
Impairment of long-lived assets     5,608  
(Gain) loss on disposal of assets 587 32 563 (4,343)
Total operating expenses 48,240 45,217 148,358 129,982
Operating income (loss) from continuing operations 8,479 9,286 20,271 31,124
Other income (expense):        
Interest income 24 57 83 154
Interest expense (including $124 and $238 respectively, for the three and nine months ended September 30, 2012 on related party debt). (6,127) (6,826) (18,787) (21,125)
Loss on early redemption of long-term debt   (305) (893) (1,395)
Other income (expense), net 60 3 71 (20)
Income (loss) from continuing operations before income taxes 2,436 2,215 745 8,738
Provision for (benefit from) income taxes (971) 526 (1,768) 3,405
Income from continuing operations 3,407 1,689 2,513 5,333
Loss from discontinued operations (39) (204) (94) (161)
Net income $ 3,368 $ 1,485 $ 2,419 $ 5,172
Basic earnings per share data:        
Earnings per share from continuing operations $ 0.14 $ 0.07 $ 0.10 $ 0.22
Earnings (loss) per share from discontinued operations   $ (0.01)   $ (0.01)
Basic earnings per share $ 0.13 $ 0.06 $ 0.10 $ 0.21
Diluted earnings per share data:        
Earnings per share from continuing operations $ 0.14 $ 0.07 $ 0.10 $ 0.22
Earnings (loss) per share from discontinued operations   $ (0.01)   $ (0.01)
Diluted earnings per share $ 0.13 $ 0.06 $ 0.10 $ 0.21
Dividends per share $ 0.13   $ 0.10  
Basic weighted average shares outstanding 24,663,027 24,546,056 24,528,091 24,448,722
Diluted weighted average shares outstanding 25,358,052 24,746,164 24,893,832 24,665,649