Emmis Communications Corporation (EMMSP) saw its loss narrow to $7.58 million, or $0.62 a share for the quarter ended Feb. 28, 2017. In the previous year period, the company reported a loss of $9.35 million, or $0.85 a share. Revenue during the quarter dropped 14.53 percent to $43.49 million from $50.88 million in the previous year period. Operating margin for the quarter stood at negative 12.64 percent as compared to a negative 18.58 percent for the previous year period.
Operating loss for the quarter was $5.50 million, compared with an operating loss of $9.45 million in the previous year period.
“The decision to sell KPWR was an extremely difficult one to make, but it allows us to dramatically reduce our indebtedness, leading to much needed financial flexibility during challenging times for the U.S. radio business,” said Jeff Smulyan, Chief executive officer & Chairman of the Board of Emmis. “Our industry needs a catalyst, and we remain convinced we have it in NextRadio. The NextRadio-developed Dial ReportTM, which provides robust data measurement and big data analytics for radio campaigns, has been a huge hit with advertisers and agencies since its introduction in January of this year.”
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