Indianapolis-based Emmis Communications has released its results for its third fiscal quarter which ended November 30.
The company, which owns five radio stations in Indianapolis and four in Terre Haute, saw its domestic radio net revenues rise by 5%. Total radio net revenues were up 1%.
“I couldn’t be more pleased with the company’s outstanding operating performance,” said Jeff Smulyan, Emmis chairman and CEO. “Emmis radio station’s revenue growth continues to outpace its markets. While our markets were up 1 percent this quarter, Emmis stations saw an increase of 5 percent.”
“With the refinancing of our entire capital structure that was completed after our quarter-end, we have dramatically reduced our interest expense and increased our ability to generate free cash flow going forward, completing the transformation of Emmis,” Smulyan added.
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