Emmis Communications Corp. (EMMS, Financial) filed Quarterly Report for the period ended 2010-11-30.
Emmis Communications Corp. has a market cap of $31.4 million; its shares were traded at around $0.8298 with and P/S ratio of 0.1. EMMS is in the portfolios of Mario Gabelli of GAMCO Investors, Jim Simons of Renaissance Technologies LLC.
No customer represents more than 10% of our consolidated net revenues. Our top ten categories for radio represent approximately 61% of our radio divisions total advertising net revenues. The automotive industry, representing approximately 9% of our radio net revenues, is the largest category for our radio division for the nine-month periods ended November 30, 2009 and 2010.
Radio net revenues increased in the three-month and nine-month periods ended November 30, 2010 as compared to the same period of the prior year principally due to improved economic conditions in the markets in which we operate. We typically monitor the performance of our domestic stations against the aggregate performance of the markets in which we operate based on reports for the periods prepared by Miller Kaplan. Miller Kaplan reports are generally prepared on a gross revenues basis and exclude revenues from barter arrangements. Miller Kaplan reported gross revenues for our domestic radio markets increased 6.0% for the nine-month period ended November 30, 2010 as compared to the same period of the prior year. Our gross revenues as reported to Miller Kaplan fell short of the performance of the markets in which we operate, posting an increase of 5.1% compared to the prior year. Our gross revenues grew more than the market average in our three mid-sized markets (St. Louis, Indianapolis and Austin) and trailed the market average in our three largest markets (New York, Los Angeles and Chicago). Revenue declines at WRKS in New York, KPWR in Los Angeles and WLUP in Chicago caused us to fall short of the performance of the markets in which we operate. Miller Kaplan does not report gross revenue market data for our Terre Haute market. For the nine-month period ended November 30, 2010 as compared to the same period of the prior year, our average rate per minute for our domestic radio stations was up 3%, and our minutes sold were up 2%.
Read the The complete Report
Emmis Communications Corp. has a market cap of $31.4 million; its shares were traded at around $0.8298 with and P/S ratio of 0.1. EMMS is in the portfolios of Mario Gabelli of GAMCO Investors, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
As previously mentioned, we derive approximately 70% of our net revenues from advertising sales. Our radio stations derive a higher percentage of their advertising revenues from local sales than our publishing entities. In the nine-month period ended November 30, 2010, local sales, excluding political revenues, represented approximately 83% and 60% of our advertising revenues for our radio and publishing divisions, respectively. In the nine-month period ended November 30, 2009, local sales, excluding political revenues, represented approximately 84% and 70% of our advertising revenues for our radio and publishing divisions, respectively.No customer represents more than 10% of our consolidated net revenues. Our top ten categories for radio represent approximately 61% of our radio divisions total advertising net revenues. The automotive industry, representing approximately 9% of our radio net revenues, is the largest category for our radio division for the nine-month periods ended November 30, 2009 and 2010.
Radio net revenues increased in the three-month and nine-month periods ended November 30, 2010 as compared to the same period of the prior year principally due to improved economic conditions in the markets in which we operate. We typically monitor the performance of our domestic stations against the aggregate performance of the markets in which we operate based on reports for the periods prepared by Miller Kaplan. Miller Kaplan reports are generally prepared on a gross revenues basis and exclude revenues from barter arrangements. Miller Kaplan reported gross revenues for our domestic radio markets increased 6.0% for the nine-month period ended November 30, 2010 as compared to the same period of the prior year. Our gross revenues as reported to Miller Kaplan fell short of the performance of the markets in which we operate, posting an increase of 5.1% compared to the prior year. Our gross revenues grew more than the market average in our three mid-sized markets (St. Louis, Indianapolis and Austin) and trailed the market average in our three largest markets (New York, Los Angeles and Chicago). Revenue declines at WRKS in New York, KPWR in Los Angeles and WLUP in Chicago caused us to fall short of the performance of the markets in which we operate. Miller Kaplan does not report gross revenue market data for our Terre Haute market. For the nine-month period ended November 30, 2010 as compared to the same period of the prior year, our average rate per minute for our domestic radio stations was up 3%, and our minutes sold were up 2%.
Read the The complete Report
