v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Total net revenue $ 68,682 $ 63,782 $ 131,291 $ 123,135
Operating expenses:        
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $446 and $453 for the three months ended June 30, 2021 and 2022, respectively, and $889 and $901 for the six months ended June 30, 2021 and 2022, respectively, paid to related parties) 42,489 36,162 80,610 69,505
Digital media operating expenses, exclusive of depreciation and amortization shown below 8,273 8,338 16,746 17,011
Publishing operating expenses, exclusive of depreciation and amortization shown below 5,432 6,426 9,899 11,631
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $2 and $159 for the three months ended June 30, 2021 and 2022, respectively, and $5 and $168 for the six months ended June 30, 2021 and 2022, respectively, paid to related parties) 4,781 4,192 9,591 8,480
Debt modification costs 20 0 248 0
Depreciation 2,858 2,741 5,800 5,330
Amortization 332 545 666 1,126
Change in the estimated fair value of contingent earn-out consideration 0 0 (5) 0
Impairment of indefinite-lived long-term assets other than goodwill 3,935 0 3,935 0
Impairment of goodwill 127 0 127 0
Net (gain) loss on the disposition of assets (6,893) (263) (8,628) 55
Total operating expenses 61,354 58,141 118,989 113,138
Operating income (loss) 7,328 5,641 12,302 9,997
Other income (expense):        
Interest income 149 0 149 1
Interest expense (3,389) (3,935) (6,783) (7,861)
Gain (loss) on early retirement of long-term debt 35 0 (18) 0
Earnings from equity method investment 3,913 0 3,913 0
Net miscellaneous income and (expenses) (1) 63 0 85
Net income before income taxes 8,035 1,769 9,563 2,222
Benefit from income taxes (1,082) (488) (1,293) (358)
Net income $ 9,117 $ 2,257 $ 10,856 $ 2,580
Basic income per share data:        
Basic income per share $ 0.33 $ 0.08 $ 0.39 $ 0.1
Diluted income per share data:        
Diluted income per share $ 0.33 $ 0.08 $ 0.39 $ 0.1
Basic weighted average shares outstanding 27,214,787 26,869,145 27,196,081 26,802,892
Diluted weighted average shares outstanding 27,570,881 27,232,423 27,590,644 27,185,598
Broadcast Revenue [Member]        
Total net revenue $ 52,452 $ 46,783 $ 100,884 $ 90,831
Digital Media [Member]        
Total net revenue 10,804 10,339 21,104 19,958
Publishing [Member]        
Total net revenue $ 5,426 $ 6,660 $ 9,303 $ 12,346

Source