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EVERGREEN MEDIA CORPORATION ANNOUNCES OPERATING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 1993

 IRVING, Texas, May 21 /PRNewswire/ -- Evergreen Media Corporation (NASDAQ: EVGM) today announced operating results for the three months ended March 31, 1993. Net revenues for the three months ended March 31, 1993, were $16,093,000 compared with $9,491,000 for the three months ended March 31, 1992, an increase of $6,602,000, or 70 percent. Net revenue growth is primarily attributable to the operations of radio stations WTOP-AM and WASH-FM in Washington, D.C., and KMEL-FM in San Francisco, which the company acquired in November 1992 and the company's May 1992, time brokerage agreement related to radio station WFYV-FM in Jacksonville (the "acquired stations"). On a pro forma basis, assuming that the operations of the acquired stations and radio stations KTRH-AM and KLOL-FM in Houston, which the company has contracted to purchase, were part of the company's consolidated group at the beginning of 1992 and excluding the operations of radio stations KASP-AM and WKBQ-FM in St. Louis, which the company has contracted to sell, net revenues for the three months ended March 1993, compared with the three months ended March 1992, would have increased $342,000, or two percent.
 Broadcast cash flow (defined as station operating income excluding depreciation, amortization and corporate general and administrative expenses) for the three months ended March 31, 1993, was $4,590,000 compared with $2,526,000 for the three months ended March 31, 1992, an increase of $2,064,000, or 82 percent. This increase in primarily attributable to the inclusion of the operations results of the Acquired Stations, and the company's October 1992, time brokerage agreement related to KSNN-FM in Dallas. On a pro forma basis, assuming that the operations of the acquired stations and radio stations KTRH-AM and KLOL- FM in Houston, were part of the company's consolidated group at the beginning of 1992 and excluding the operations of radio stations KASP-AM and WKBQ-FM in St. Louis, broadcast cash flow for the three months ended March 1993, compared with the three months ended March 1992, would have increased $415,000, or eight percent.
 Depreciation and amortization expenses for the three months ended March 31, 1993, were $6,780,000 compared with $1,964,000 for the three months ended March 31, 1992, an increase of $4,816,000. This increase is due primarily to amortization of certain intangibles related to the acquired stations.
 Operating loss for the three months ended March 31, 1993, was $2,661,000 compared with operating income of $182,000 for the three months ended March 31, 1992, a decrease of $2,843,000. This decrease is due primarily to increased intangibles amortization expenses of the acquired stations partially offset by improved operating results of the consolidated radio group.
 Net loss, which includes interest and other non-operating expenses, for the three months ended March 31, 1993, was $13,227,000 compared with a net loss of $2,579,000 for the three months ended March 31, 1992, an increase of $10,648,000. This increase is primarily due to the company recording a non-recurring non-cash charge of $7,002,000 resulting from the granting to management of operations to purchase 585,000 shares of the company's Class A common stock in March 1993 and increased intangible amortization expenses of the acquired stations partially offset by improved operating results of the consolidated radio group.
 Scott K. Ginsburg, chairman and chief executive officer of Evergreen Media Corporation, commented, "The company's consolidated performance for the three months ended March 31 was `on target' with company expectations." Mr. Ginsburg added, "The company's strategy to acquire radio stations in geographically diverse, large urban areas coupled with the ongoing development of its owned and operated radio stations is intended to posture the company for additional growth."
 Evergreen Media Corporation owns and operates radio stations across the United States, including stations in four of the nation's five largest radio markets (Los Angeles, Chicago, San Francisco and Washington, D.C.). The company presently is the nation's second largest company engaged solely in the radio broadcasting business and the nation's seventh largest radio broadcasting operator.
 EVERGREEN MEDIA CORPORATION
 Consolidated Statements of Operations
 (Unaudited, dollars in thousands except per share data)
 Periods ended March 31 Three Months Ended
 1993 1992
 Net revenues $16,093 $ 9,491
 Broadcast cash flow 4,590 2,526
 Depreciation and amortization 6,780 1,964
 Corporate general & administrative
 expenses 471 379
 Operating income (loss) (2,661) 182
 Interest expense 3,480 2,482
 Net income (loss) before dividends (13,227) (2,579)
 Preferred dividends 1,485 -
 Net income (loss) (14,712) (2,579)
 Net income (loss) per common share ($2.71) ($0.47)
 Weighted average common shares
 outstanding 5,435 5,435
 -0- 5/21/93
 /CONTACT: Matthew E. Devine of Evergreen Media Corporation, 214-869-9020/
 (EVGM)


CO: Evergreen Media Corporation ST: Texas IN: ENT SU: ERN

TM -- NY070 -- 1365 05/21/93 17:48 EDT
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Date:May 21, 1993
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