Emmis Communications (EMMS +0.8%) reported Q2 revenue decrease of 25.2% Y/Y to $32.06M. Revenue by segments: Radio $30.73M (-26.4% Y/Y); Publishing $897k (+6% Y/Y) and Emerging technology $428k (+79.8% Y/Y).
Revenue by source: Advertising $19.12M (-24.9% Y/Y), Circulation $93k (-6% Y/Y), Nontraditional $$639M (-27.1% Y/Y), LMA Fees $2.58M (-14.1% Y/Y), Digital $1.29M (-53.4% Y/Y) and Other $2.58M (-5.4% Y/Y).
Q2 Operating income declined by 97% Y/Y to $2.46M. Station operating income was $6.12M (-32.8% Y/Y).
Net cash used in operating activities was $963k, compared to $6.79M a year ago.
Company has cash, cash equivalents and restricted cash of $8.39M as of August 31, 2018.
Previously: Emmis Communications reports Q2 results (Oct. 11)
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