Net revenue was $111.6 million, an increase of 5.4% from Q4 2012. Station operating income was $39.1 million, an increase of 9.9% from the same period in 2012. The Company reported operating income of approximately $17.4 million compared to operating income of approximately $14.6 million for the same period in 2012. Net loss was approximately $16.4 million or $0.35 per share compared to net loss of $17.2 million or $0.34 per share, for the same period in 2012.
Said Alfred C. Liggins, III, Radio One CEO: “Our core radio business remains very robust: excluding political advertising, revenue for our combined radio and Reach Media segments increased approximately 5.0% over Q4 2012. Consolidated net revenue excluding political increased 10.6% over Q4 2012. I was pleased that once again we delivered a double digit increase in Consolidated Adjusted EBITDA, which increased 10% year over year, and that our Interactive division achieved profitability on an Adjusted EBITDA basis for both the fourth quarter and the full year.”
Radio One stations did well in Houston, Atlanta, Baltimore and Dallas. But overall, local ad sales revenue was down 5.2% and national was down 2.6% — mostly due to tough political comps.