Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net broadcast revenue $ 49,707 $ 49,060 $ 98,178 $ 95,599
Net digital media revenue 11,311 11,499 22,595 22,290
Net publishing revenue 6,761 6,734 11,581 11,260
Total net revenue 67,779 67,293 132,354 129,149
Operating expenses:        
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $365 and $402 for the three months ended June 30, 2015 and 2016, respectively, and $730 and $810 for the six months ended June 30, 2015 and 2016, respectively, paid to related parties) 35,709 35,187 71,697 69,104
Digital media operating expenses, exclusive of depreciation and amortization shown below 8,781 8,767 17,967 17,767
Publishing operating expenses, exclusive of depreciation and amortization shown below 6,983 6,469 11,931 10,966
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $36 and $9 for the three months ended June 30, 2015 and 2016, respectively, and $69 and $107 for the six months ended June 30, 2015 and 2016, respectively, paid to related parties) 3,568 3,518 7,781 7,509
Depreciation 2,982 3,060 5,974 6,232
Amortization 1,189 1,315 2,332 2,644
Change in the estimated fair value of contingent earn-out consideration (134) (307) (262) (189)
Impairment of long-lived assets 700 0 700 0
(Gain) loss on the sale or disposal of assets (1,701) 30 (1,551) 159
Total operating expenses 58,077 58,039 116,569 114,192
Operating income 9,702 9,254 15,785 14,957
Other income (expense):        
Interest income 2 2 3 3
Interest expense (3,730) (3,874) (7,526) (7,678)
Change in the fair value of interest rate swap (423) 444 (2,181) (976)
Loss on early retirement of long-term debt (5) 0 (14) (41)
Net miscellaneous income and expenses 0 0 0 7
Income from operations before income taxes 5,546 5,826 6,067 6,272
Provision for income taxes 2,190 2,303 2,358 2,454
Net income $ 3,356 $ 3,523 $ 3,709 $ 3,818
Basic earnings per share data:        
Basic earnings per share $ 0.13 $ 0.14 $ 0.14 $ 0.15
Diluted earnings per share data:        
Diluted earnings per share 0.13 0.14 0.14 0.15
Distributions per share $ 0.13 $ 0.07 $ 0.13 $ 0.13
Basic weighted average shares outstanding 25,551,445 25,429,127 25,518,339 25,387,813
Diluted weighted average shares outstanding 26,052,649 25,829,493 25,927,804 25,875,306