This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Entercom Communications Corp. Reports Third Quarter Results

Entercom Communications Corp. (NYSE: ETM) today reported financial results for the quarter ended September 30, 2011.

Third Quarter Highlights

  • Net revenues for the quarter decreased 2% to $100.4 million
  • Station expenses increased 3% to $69.5 million
  • Station operating income decreased 13% to $30.9 million
  • Adjusted EBITDA decreased 14% to $26.7 million
  • Net income per share was $0.22
  • Adjusted net income per share decreased 3% to $0.29
  • Free cash flow decreased 12% to $20.6 million

David J. Field, President and Chief Executive Officer stated: “Business conditions remained sluggish yet stable during the third quarter as Entercom revenues declined 2%, essentially flat ex-political. Entercom gained revenue share in a significant majority of its markets. We remain highly focused on making strategic investments in content, distribution and digital capabilities to enhance our competitive position and accelerate our future performance. During the third quarter, we launched our full-time programming lineup on The Game, our new San Francisco FM sports station, and added FM distribution to WEEI, our Boston sports property. Over the course of the year, we have established FM distribution for a number of our core AM news, talk and sports stations. While these moves have diluted 2011 performance by eliminating a handful of our music stations, they are driving audience growth, protecting the long-term health of key franchises, and enhancing our revenue growth opportunities going forward. Looking ahead to 2012, we are highly encouraged by brightening industry prospects due to accelerating industry innovation and outstanding audience usage trends.”

Additional Information

During the quarter, the Company reduced its outstanding net senior debt by $22.4 million. As of September 30, 2011, the Company had $4.9 million in cash and $605.6 million of senior debt. Since 2007, the Company has reduced its outstanding net senior and senior subordinated debt by more than $360 million.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs