Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net broadcast revenue $ 50,563 $ 49,251 $ 98,613 $ 97,055
Net digital media revenue 10,260 10,866 20,654 21,552
Net publishing revenue 5,449 5,995 10,800 12,485
Total net revenue 66,272 66,112 130,067 131,092
Operating expenses:        
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $547 and $574 for the three months ended June 30, 2017 and 2018, respectively, and $1,114 and $1,135 for the six months ended June 30, 2017 and 2018, respectively, paid to related parties) 37,243 35,931 72,993 71,767
Digital media operating expenses, exclusive of depreciation and amortization shown below 8,397 8,370 16,771 17,072
Publishing operating expenses, exclusive of depreciation and amortization shown below 5,522 5,668 11,109 12,019
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $47 and $94 for the three months ended June 30, 2017 and 2018, respectively, and $139 and $157 for the six months ended June 30, 2017 and 2018, respectively, paid to related parties) 4,030 3,825 7,951 8,950
Depreciation 3,035 3,109 6,044 6,089
Amortization 1,476 1,143 2,954 2,285
Change in the estimated fair value of contingent earn-out consideration 72 (43) 72 (42)
Impairment of indefinite-lived long-term assets other than goodwill 0 0 0 19
Net (gain) loss on the disposition of assets 5,154 (510) 5,159 (505)
Total operating expenses 64,929 57,493 123,053 117,654
Operating income 1,343 8,619 7,014 13,438
Other income (expense):        
Interest income 0 1 2 2
Interest expense (4,754) (3,924) (9,272) (7,354)
Change in the fair value of interest rate swap 0 0 0 357
Gain (loss) on early retirement of long-term debt 234 (2,734) 234 (2,775)
Net miscellaneous income and (expenses) (88) 0 (13) 0
Net income (loss) before income taxes (3,265) 1,962 (2,035) 3,668
Provision for (benefit from) income taxes (1,098) 690 (696) 1,336
Net income (loss) $ (2,167) $ 1,272 $ (1,339) $ 2,332
Basic earnings (loss) per share data:        
Basic earnings (loss) per share $ (0.08) $ 0.05 $ (0.05) $ 0.09
Diluted earnings (loss) per share data:        
Diluted earnings (loss) per share (0.08) 0.05 (0.05) 0.09
Distributions per share $ 0.07 $ 0.07 $ 0.13 $ 0.13
Basic weighted average shares outstanding 26,177,247 26,062,403 26,174,393 25,982,102
Diluted weighted average shares outstanding 26,177,247 26,593,366 26,174,393 26,442,146