Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Net broadcast revenue $ 178,731 $ 174,933 $ 172,055
Net Internet revenue 27,304 20,104 16,232
Net publishing revenue 12,131 11,421 10,926
Total net revenue 218,166 206,458 199,213
Operating expenses:      
Broadcast operating expenses exclusive of depreciation and amortization 115,482 110,421 108,106
Internet operating expenses exclusive of depreciation and amortization shown below 20,889 16,722 13,361
Publishing operating expenses exclusive of depreciation and amortization shown below 11,475 11,226 10,237
Corporate expenses exclusive of depreciation and amortization 17,503 16,613 14,005
Depreciation 12,520 12,570 13,441
Amortization 2,451 2,018 1,679
Cost of denied tower site, abandoned projects and terminated transactions     1,111
Impairment of indefinite-lived intangible assets other than goodwill     27,409
Impairment of goodwill     587
(Gain) loss on disposal of assets (4,153) 255 1,676
Total operating expenses 176,167 169,825 191,612
Operating income (loss) from continuing operations 41,999 36,633 7,601
Other income (expense):      
Interest income 344 183 290
Interest expense (27,665) (30,297) (20,079)
Change in fair value of interest rate swaps     (781)
Gain on bargain purchase     1,634
Gain (loss) on early retirement of long-term debt (2,169) (1,832) (1,050)
Other income (expense), net (40) (16) (88)
Income (loss) from continuing operations before income taxes 12,469 4,671 (12,473)
Provision for (benefit from) income taxes 6,110 2,695 (4,210)
Income (loss) from continuing operations 6,359 1,976 (8,263)
Loss from discontinued operations, net of tax (741) (44) (83)
Net income (loss) $ 5,618 $ 1,932 $ (8,346)
Basic earnings per share data:      
Earnings (loss) per share from continuing operations $ 0.26 $ 0.08 $ (0.35)
Earnings (loss) per share from discontinued operations $ (0.03)    
Basic earnings (loss) per share $ 0.23 $ 0.08 $ (0.35)
Diluted earnings per share data:      
Earnings (loss) per share from continuing operations $ 0.26 $ 0.08 $ (0.35)
Earnings (loss) from discontinued operations $ (0.03)    
Diluted earnings (loss) per share $ 0.23 $ 0.08 $ (0.35)
Basic weighted average shares outstanding 24,475,102 24,086,829 23,803,864
Diluted weighted average shares outstanding 24,683,644 24,653,465 23,803,864