Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net broadcast revenue $ 48,424 $ 51,052 $ 145,479 $ 149,768
Net digital media revenue 10,446 11,999 31,998 34,056
Net publishing revenue 6,563 8,221 19,048 19,802
Total net revenue 65,433 71,272 196,525 203,626
Operating expenses:        
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $412 and $431 for the three months ended September 30, 2016 and 2017, respectively, and $1,231 and $1,284 for the nine months ended September 30, 2016 and 2017, respectively, paid to related parties) 37,040 37,434 108,807 109,455
Digital media operating expenses, exclusive of depreciation and amortization shown below 8,169 9,172 25,241 26,815
Publishing operating expenses, exclusive of depreciation and amortization shown below 6,686 8,020 18,705 19,951
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $147 and $98 for the three months ended September 30, 2016 and 2017, respectively, and $254 and $218 for the nine months ended September 30, 2016 and 2017, respectively, paid to related parties) 4,233 4,147 13,183 11,928
Depreciation 3,082 2,976 9,171 8,950
Amortization 1,135 1,341 3,420 3,673
Change in the estimated fair value of contingent earn-out consideration (12) (196) (54) (458)
Impairment of long-lived assets 0 0 0 700
Impairment of indefinite-lived long-term assets other than goodwill 0 0 19 0
Net (gain) loss on the sale or disposal of assets 95 (457) (410) (2,008)
Total operating expenses 60,428 62,437 178,082 179,006
Operating income 5,005 8,835 18,443 24,620
Other income (expense):        
Interest income 1 1 3 4
Interest expense (4,802) (3,726) (12,156) (11,252)
Change in the fair value of interest rate swap 0 856 357 (1,325)
Loss on early retirement of long-term debt 0 (18) (2,775) (32)
Net miscellaneous income and (expenses) (80) 7 (80) 7
Net income before income taxes 124 5,955 3,792 12,022
Provision for income taxes 170 3,763 1,506 6,121
Net income (loss) $ (46) $ 2,192 $ 2,286 $ 5,901
Basic earnings (loss) per share data:        
Basic earnings (loss) per share $ 0 $ 0.08 $ 0.09 $ 0.23
Diluted earnings (loss) per share data:        
Diluted earnings (loss) per share 0 0.08 0.09 0.23
Distributions per share $ 0.07 $ 0.07 $ 0.2 $ 0.2
Basic weighted average shares outstanding 26,144,796 25,815,242 26,036,333 25,617,307
Diluted weighted average shares outstanding 26,144,796 26,183,182 26,454,923 26,012,930