This Day On The Street
Continue to site right-arrow
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!

Cumulus Reports Fourth Quarter And Full Year 2012 Results

Stocks in this article: CMLS

Interest Expense, net

Interest expense, net of interest income, for the year ended December 31, 2012 increased $111.6 million to $198.6 million compared to $87.0 million for the year ended December 31, 2011. Interest expense associated with outstanding debt increased by $104.0 million to $187.8 million as compared to $83.8 million in the prior year period. Interest expense increased due to a higher average amount of indebtedness outstanding as a result of our Company's refinancing efforts undertaken in connection with the Citadel Merger in 2011.

Capital Expenditures

Capital expenditures for the year ended December 31, 2012 totaled $6.6 million, which represented routine capital expenditures. Capital expenditures during the twelve months ended December 31, 2011 were $6.7 million.

Earnings (Loss) Per Share

Basic (loss) earnings per share ("EPS") is calculated for the three months and year ended December 31, 2012 by dividing undistributed net loss from continuing operations of $84.5 million and $92.1 million, respectively, adjusted for dividends declared on preferred stock for the three months and year ended December 31, 2012 of $2.7 million and $13.8 million, respectively, and the accretion of redeemable preferred stock for the three months and year ended December 31, 2012 of $1.0 million and $7.7 million, respectively, by the weighted average number of shares of common stock outstanding during the applicable period, which was 173,628,466 shares and 162,603,882 shares for the three months and year ended December 31, 2012, respectively. Diluted EPS for the three months and year ended December 31, 2012 was calculated in the same manner as basic EPS. Potentially dilutive equivalent shares outstanding for the three months and year ended December 31, 2012 excluded from the computation of diluted loss per share consisted of approximately 40.5 million and 52.8 million, respectively, of additional shares of common stock to underlying outstanding warrants. Basic and diluted EPS from discontinued operations and net (loss) income are computed in the same matter as EPS from continuing operations, excluding any adjustments for dividends accrued and accreted.

4 of 11

Select the service that is right for you!

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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