CWSS, CMLS, MMAC
CWSS, should be watched.Kha vu discovered this baby before it was up 17% but there could be more gains to be had.
Cumulus Media Inc. Reports Record Fourth Quarter Results
Same-Station Revenue up 31%; Broadcast Cash Flow up 166% Margins Double from 15% to 31%
MILWAUKEE--(BUSINESS WIRE)--Feb. 16, 1999-- Cumulus Media Inc. (NASDAQ: CMLS - news), the nation's third largest owner and operator of radio stations (based upon the number of stations owned or to be acquired pursuant to pending acquisition agreements), today reported record-breaking increases in revenue, broadcast cash flow and margins for the fourth quarter and the year ended December 31, 1998.
Fourth Quarter ended December 31, 1998
Consolidated net revenue on a historical basis was $35.7 million, up from $7.5 million for the fourth quarter in 1997. Broadcast cash flow was $10.7 million, up from $1.8 million. Due to non-cash depreciation and amortization expense, and interest expense related to the acquisition of 164 stations since the Company's inception on May 22, 1997, the Company reported a net loss, attributable to common stock of $7.3 million, during the fourth quarter of 1998, or ($ .37) per share. |
