Emmis Announces Fourth Quarter and Full Year Results

Emmis Communications Corporation (NASDAQ: EMMS) today announced results for its fourth fiscal quarter and full-year ending February 28, 2013.Pro forma for Radio Station divestitures, Emmis’ radio net revenues (consisting solely of our domestic Radio Station s) for the fourth fiscal quarter were up 3%. Revenues reported to Miller Kaplan in the markets where Emmis competes, excluding barter revenue, grew 2.8% during the quarter. Emmis pro forma radio revenues reported on the same basis grew 4.2%, exclusive of revenue associated with 98.7FM in New York, which is being programmed by ESPN pursuant to an LMA. On a reported basis, net radio revenues for the quarter were up 2%.For the full year, pro forma radio revenues were $128.0 million, compared to $123.9 million in the prior year, an increase of 3 percent. Market revenues for the full year reported to Miller Kaplan in markets where Emmis competes, excluding barter revenues, grew 0.7% and Emmis pro forma radio revenues reported on the same basis were up 3.4% during the same period.”Emmis is known for operational excellence, and I’m pleased to say this year was no different,” Jeff Smulyan, President & CEO of Emmis said. “For the second year in a row we have significantly outperformed our radio markets and the radio industry. Emmis fini