XML 16 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]    
Net revenue $ 105,946,670 $ 58,705,903
Operating expenses:    
Station operating expenses (including stock-based compensation of $101,362 in 2014 and $110,781 in 2015 and excluding depreciation and amortization shown separately below) 75,609,147 40,351,258
Corporate general and administrative expenses (including stock-based compensation of $1,216,540 in 2014 and $1,002,110 in 2015) 8,983,860 8,923,117
Radio station exchange transaction costs 349,917 1,261,318
Employee termination expenses   458,585
Depreciation and amortization 3,834,992 2,151,949
Impairment loss 3,520,933  
Total operating expenses 92,298,849 53,146,227
Operating income 13,647,821 5,559,676
Non-operating income (expense):    
Interest expense (3,967,794) (4,375,129)
Loss on modification of long-term debt (558,856) (30,569)
Other income (expense), net 881,938 326,282
Income from continuing operations before income taxes 10,003,109 1,480,260
Income tax expense 3,640,787 514,275
Income from continuing operations 6,362,322 965,985
Income from discontinued operations (net of income taxes)   39,033,382
Net income 6,362,322 39,999,367
Other comprehensive income:    
Unrealized gain (loss) on securities (net of income tax benefit of $1,770 in 2014 and income tax expense of $32,494 in 2015) 53,226 (2,689)
Comprehensive income $ 6,415,548 $ 39,996,678
Basic net income per share:    
Continuing operations $ 0.28 $ 0.04
Discontinued operations   1.71
Net income per share 0.28 1.75
Diluted net income per share:    
Continuing operations 0.28 0.04
Discontinued operations   1.70
Net income per share 0.28 1.74
Dividends declared per common share $ 0.18 $ 0.18
Weighted average shares outstanding:    
Basic 22,911,727 22,811,825
Diluted 23,025,720 22,944,815