Included below are tables that reconcile OIBDA to operating income (loss) for each segment and consolidated net income (loss), which is the most directly comparable GAAP financial measure.

  Quarter Ended December 31, 2012
(Unaudited and in thousands) Consolidated Radio Television Corporate
         
OIBDA  $ 13,599  15,219  335  (1,955)
Less expenses excluded from OIBDA but included in operating income (loss):        
Depreciation and amortization  1,342  490  777  75
(Gain) loss on the disposal of assets, net  (7)  (7)  --   -- 
Impairment charges and restructuring costs  (130)  --   --   (130)
Operating Income (Loss)  $ 12,394  14,736  (442)  (1,900)
         
  Quarter Ended December 31, 2011
(Unaudited and in thousands) Consolidated Radio Television Corporate
         
OIBDA  $ 11,805  14,671  (1,209)  (1,657)
Less expenses excluded from OIBDA but included in operating income (loss):        
Depreciation and amortization  1,426  557  740  129
(Gain) loss on the disposal of assets, net  7  1  6  -- 
Impairment charges and restructuring costs  --   --   --   -- 
Operating Income (Loss)  $ 10,372  14,113  (1,955)  (1,786)
         
  Quarter Ended December 31,    
(Unaudited and in thousands) 2012 2011    
Operating Income  $ 12,394  10,372    
Other (expense) income:        
Interest expense, net  (9,930)  (2,068)    
Income before income taxes  2,464  8,304    
Income tax (benefit) expense  (164)  2,146    
Net income  $ 2,628  6,158    
   
  Fiscal Year Ended December 31, 2012
(Unaudited and in thousands) Consolidated Radio Television Corporate
         
OIBDA  $ 43,141  52,205  (1,557)  (7,507)
Less expenses excluded from OIBDA but included in operating income (loss):        
Depreciation and amortization  5,464  2,062  2,999  403
(Gain) loss on the disposal of assets, net  (15)  (15)  --   -- 
Impairment charges and restructuring costs  442  48  11  383
Operating Income (Loss)  $ 37,250  50,110  (4,567)  (8,293)
         
  Fiscal Year Ended December 31, 2011
(Unaudited and in thousands) Consolidated Radio Television Corporate
         
OIBDA  $ 43,823  57,030  (5,960)  (7,247)
Less expenses excluded from OIBDA but included in operating income (loss):        
Depreciation and amortization  5,436  2,267  2,629  540
(Gain) loss on the disposal of assets, net  (10)  (8)  6  (8)
Impairment charges and restructuring costs  207  --   --   207
Operating Income (Loss)  $ 38,190  54,771  (8,595)  (7,986)
         
  Fiscal Year Ended December 31,    
(Unaudited and in thousands) 2012 2011    
Operating Income  $ 37,250  38,190    
Other (expense) income:        
Interest expense, net  (36,543)  (8,182)    
Loss on early extinguishment of debt  (391)  --     
(Loss) income before income taxes  316  30,008    
Income tax expense  1,597  6,306    
Net (loss) income  $ (1,281)  23,702    

Non-GAAP Reporting Requirement under our Senior Secured Notes Indenture

Under our Senior Secured Notes Indenture, we are to provide our Senior Secured Noteholders a statement of our "Station Operating Income for the Television Segment," as defined by the Indenture, for the two fiscal quarter period ended December 31, 2012 (i.e. July 2012 – December 2012) and a reconciliation of "Station Operating Income for the Television Segment" to the most directly comparable financial measure calculated in accordance with GAAP. 

If you liked this article you might like

5 Stocks Under $10 Triggering Breakouts

5 Stocks Under $10 Set to Soar

Spanish Broadcasting System Inc Stock Downgraded (SBSA)

5 Under-$10 Stocks Poised for a Breakout

Spanish Broadcasting System Stock Soars (SBSA)