The smallest publicly traded radio company of all, Debut Broadcasting, reported that its Q2 revenues were up 29% and the company turned its red ink to black. That was attributed to both improved ad sales and cost controls.
Q2 gross revenues hit a record $1.36 million, up 29% from a year earlier. Operating income was $145,758, reversing a loss of $53,727. Likewise, net income was $85,043 vs. a net loss of $$127,827 in Q2 2009. The company also reported $172,011 in EBITDA for Q2 2010.
“Our restructuring efforts implemented in February of this year are beginning to show positive results. Our record second-quarter revenue along with continued rigor on cost management resulted in much improved results,” said Ronald E. Heineman, Chairman & CEO.
“While we remain cautious with the overall business climate, customers have begun revisiting their advertising budgets resulting in some increases in the syndicated advertising sales division. Now that our restructuring plan has been implemented, we are strategically evaluating opportunities to grow top line revenue. Our dedicated team of associates are very experienced and are key to establishing the platform for future growth. We look forward to reporting future progress,” Heineman said in a brief statement about the quarterly results. Debut, whose stock trades on the OTC Bulletin Board, does not conduct Wall Street conference calls.
Debut owns small market radio stations in Mississippi. Its syndication business, Nashville, TN-based Impact Radio Networks, sells pre-recorded radio programs and related services to more than 1,400 AM and FM stations in the US.