Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net broadcast revenue $ 48,471 $ 46,539
Net digital media revenue 11,284 10,791
Net publishing revenue 4,820 4,526
Total net revenue 64,575 61,856
Operating expenses:    
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $365 and $408 for the three months ended March 31, 2015 and 2016, respectively, paid to related parties) 35,988 33,917
Digital media operating expenses, exclusive of depreciation and amortization shown below 9,186 9,000
Publishing operating expenses, exclusive of depreciation and amortization shown below 4,948 4,497
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $33 and $98 for the three months ended March 31, 2015 and 2016, respectively, paid to related parties) 4,213 3,991
Depreciation 2,992 3,172
Amortization 1,143 1,329
Change in the estimated fair value of contingent earn-out consideration (128) 118
Loss on the sale or disposal of assets 150 129
Total operating expenses 58,492 56,153
Operating income 6,083 5,703
Other income (expense):    
Interest income 1 1
Interest expense (3,796) (3,804)
Change in the fair value of interest rate swap (1,758) (1,420)
Loss on early retirement of long-term debt (9) (41)
Net miscellaneous income and expenses 0 7
Income from operations before income taxes 521 446
Provision for income taxes 168 151
Net income $ 353 $ 295
Basic earnings per share data:    
Basic earnings per share $ 0.01 $ 0.01
Diluted earnings per share data:    
Diluted earnings per share 0.01 0.01
Distributions per share $ 0 $ 0.06
Basic weighted average shares outstanding 25,485,234 25,346,499
Diluted weighted average shares outstanding 25,802,958 25,921,118