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Journal Reports Q4 Radio Revenue Increased 6.2%.

February 15, 2011

Journal reported that revenue from its 33 radio stations increased 6.2% to $18.9 million from $17.8 million. Radio political and issue advertising revenue was $700K compared to $100K a year earlier. Operating earnings from radio stations were $3.2 million compared to $4.6 million. Excluding the $1.8 million noncash impairment charge for a building in Omaha in 2010 and the $0.5 million gain related to the Wichita tower replacement in 2009, operating earnings would have been $5.0 million compared to $4.1 million. Radio operating expenses increased 19.0%. Excluding the Omaha building impairment and the Wichita tower gain, radio operating expenses increased 1.4%.

For the full year, revenue from radio stations increased 4.8% to $69.3 million from $66.1 million. Radio political and issue advertising revenue was $1.3 million compared to $0.4 million. Operating earnings from radio stations were $14.5 million compared to $10.7 million. Excluding the $1.8 million noncash impairment charge for a building in Omaha and a $0.3 million gain related to the Wichita tower replacement in 2010 and the $4.1 million noncash impairment charge for broadcast licenses and the $2.2 million gain related to the Wichita tower in 2009, operating earnings would have been $16.0 million compared to $12.7 million. Radio operating expenses decreased 1.0%. Excluding the Omaha building and broadcast license noncash impairments and the gain related to the Wichita tower replacement, radio operating expenses decreased 0.3% primarily due to extensive cost reductions.

 


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