Emmis Reports Higher Q3 Profits

Jan 6, 2005  •  Post A Comment

Emmis Communications, which owns 16 television stations, on Thursday reported a 94 percent surge in its fiscal third-quarter profit, lifted by strong political campaign spending at its TV stations and improved advertising performance at its 25 radio stations.

The Indianapolis-based company reported net income for the three months ended Nov. 30 of $17.6 million, compared with a year-earlier figure of nearly $9.1 million. Revenue jumped 11 percent to $169 million, largely driven by strong results at the television stations.

The company said political campaign spending in the period helped the TV station group report a 24 percent bounce in revenue to hit $78.4 million, compared with a year-earlier figure of $63.2 million.