Dial Global has already reported Q3 financial results for the public company as it stood at the end of the quarter, which was only the old Westwood One side of the company. Now Dial Global has filed financial results at the SEC for the portion of the company which was then still privately held – the pre-merger Dial Global.
For the three months ended September 30, 2011, revenue was $25 million compared to $23 million for the comparable period in 2010, an increase of 8.8%. “The increase in revenue resulted from an improvement in the advertising marketplace in the third quarter of 2011 compared to 2010,” the company said.
So revenues were up for the Dial Global side, while they were down for the Westwood One side, although that was primarily due to the NFL lockout.
Operating income for Dial Global in Q3 decreased $0.7 million to $1.4 million from $2.1 million for the comparable period in 2010. “This decrease in the income is primarily attributable to the 2011 Merger transaction costs of $3.2 million, increased compensation costs of $0.3 million and station compensation costs of $0.1 million, partially offset by increased revenue of $2 million, lower other operating costs of $0.6 million and lower depreciation and amortization of $0.3 million,” the company explained.
The merger of Westwood One and Dial Global closed on October 21st and the company has been using the Dial Global name since that time. The official corporate name change should be effective any day now.