Entercom Q4 Revenue Grows 7%
Net revenue in Q4 for Entercom was $102.1 million, an increase of 7 percent over 2011. Operating income grew 16 percent to $40.4 million. And free cash flow increased 6 percent to $22.0 million. For the year, Entercom posted a 2 percent increase in net revenue taking in $388.9 million. Operating income for 2012 was down 14 percent to $136.6 million. And free cash flow decreased to $63.1 million.
Categories that were strong in the 4th quarter for Entercom included financial services, health and medical, home furnishings telecom, travel, political and auto. Local was up low single digits, while national was down "a bit."
Entercom CEO David Field said, "We enter 2013 with a strong balance sheet, an outstanding lineup of great brands and content, and a powerful array of emerging digital platforms. We are also highly enthused by a number of positive industry developments over the past few months which bolster the industry’s future prospects. Industry research continues to show robust radio listening levels and strong advertiser effectiveness, while recent announcements by Sprint, Nielsen, and others reaffirm radio’s importance in today’s media landscape.”