Emmis Reports Surge in Profits

Sep 28, 2004  •  Post A Comment

Radio and television broadcaster Emmis Communications today reported a 57 percent surge in its fiscal second-quarter profits as the company managed to weather a fairly choppy advertising market.

The Indianapolis-based owner of 16 TV stations and 27 radio stations reported a second-quarter profit of $15.3 million, or 23 cents a share, for the three months ended Aug. 31, compared with a year-earlier profit of $9.8 million, or 14 cents a share. Revenue rose 8 percent to $166.8 million.

While auto advertising at the company’s TV stations was down, the station group managed to generate a 10 percent increase in revenue during the quarter, hitting $61.4 million.