Revenues and sales expenses down for Interep


Interep reports that Q2 commission revenues declined 14.7% to 16.1 million. "The majority of this 2.8 million decrease is attributable to the termination of our representation contract with the former Susquehanna stations after their acquisition by Cumulus Broadcasting in 2006 and a decrease in spending by advertisers at our client stations," the company said in its quarterly SEC filing. Contract termination revenue in Q2 increased by 700K to 1.0 million. Selling expenses declined 18.7% to 13.8 million. However, Interep also had to expense part of its severance costs for former CEO Ralph Guild, so general and administrative expenses shot up 5.4 million to 8.7 million for the quarter. Thus, for the quarter, Interep had an operating loss of 5.3 million, compared to a loss of 1.0 million a year earlier.