SUMMARIZED QUARTERLY FINANCIAL DATA (Unaudited) (Block)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure Abstract

Quarterly Financial Information Text Block

23. SUMMARIZED QUARTERLY FINANCIAL DATA (Unaudited)

The following table presents unaudited operating results for each quarter within the two most recent years. The Company believes that all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the following quarterly results when read in conjunction with the financial statements included elsewhere in this report. Results of operations for any particular quarter are not necessarily indicative of results of operations for a full year. The Company’s financial results are also not comparable from quarter to quarter due to the Company’s acquisitions and dispositions of radio stations as described in Note 18 and due to the seasonality of revenues, with revenues usually the lowest in the first quarter of each year.

	Quarters Ended
	December 31		September 30		June 30		March 31
	(amounts in thousands, except per share data)
2016
Net revenues	$	123,207	$	120,457	$	120,478	$	96,103
Operating income	$	30,040	$	25,688	$	27,584	$	14,745
Net income (loss) available to the Company	$	11,399	$	11,420	$	10,834	$	4,412
Net income (loss) available to common shareholders	$	10,849	$	10,894	$	10,422	$	3,999
Net income (loss) available to common shareholders
per share - basic (1)	$	0.28	$	0.28	$	0.27	$	0.10
Weighted average common shares outstanding - basic		38,561		38,485		38,469		38,448
Net income (loss) available to common shareholders
per share - diluted (1)	$	0.27	$	0.28	$	0.26	$	0.10
Weighted average common shares outstanding - diluted		39,800		41,433		41,130		39,260
Preferred stock dividends declared and paid	$	550	$	413	$	413	$	412
Common stock dividends declared and paid	$	2,893	$	2,887	$	2,886	$	-
	Quarters Ended
	December 31		September 30		June 30		March 31
	(amounts in thousands, except per share data)
2015
Net revenues	$	117,704	$	114,662	$	100,592	$	78,420
Operating income	$	32,555	$	23,159	$	20,615	$	9,253
Net income (loss) available to the Company	$	14,088	$	8,442	$	6,747	$	(93)
Net income (loss) available to common shareholders	$	13,675	$	8,103	$	6,747	$	(93)
Net income (loss) available to common shareholders
per share - basic (1)	$	0.36	$	0.21	$	0.18	$	-
Weighted average common shares outstanding - basic		38,088		38,076		38,074		38,026
Net income (loss) available to common shareholders
per share - diluted (1)	$	0.34	$	0.21	$	0.17	$	-
Weighted average common shares outstanding - diluted		40,974		38,913		38,929		38,026
Preferred stock dividends declared and paid	$	413	$	-	$	-	$	-
Common stock dividends declared and paid	$	-	$	-	$	-	$	-

• Basic and diluted net income per shareis computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly per share amounts may not equal the annual per share amounts reported.