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Segment Information (Tables)
3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Separate Financial Data for Each of Company's Operating Segment

Separate financial data for each of the Company’s operating segments are provided below. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses. There were no significant sources of revenue generated outside the United States during the three-month periods ended March 31, 2015 and 2014. The Company evaluates the performance of its operating segments based on the following (in thousands):

 

 

 

Three-Month Period

 

 

 

 

 

 

Ended March 31,

 

 

%

 

 

 

2015

 

 

 

2014

 

 

Change

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

Television

$

39,502

 

 

$

37,741

 

 

 

5

%

Radio

 

16,345

 

 

 

14,915

 

 

 

10

%

Digital

 

3,703

 

 

 

-

 

 

 

100

%

Consolidated

 

59,550

 

 

 

52,656

 

 

 

13

%

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue - digital media

 

1,360

 

 

 

-

 

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

Television

 

14,679

 

 

 

14,956

 

 

 

(2

)%

Radio

 

10,186

 

 

 

9,920

 

 

 

3

%

Digital

 

1,820

 

 

 

-

 

 

 

100

%

Consolidated

 

26,685

 

 

 

24,876

 

 

 

7

%

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

Television

 

5,055

 

 

 

4,495

 

 

 

12

%

Radio

 

4,526

 

 

 

4,136

 

 

 

9

%

Digital

 

920

 

 

 

-

 

 

 

100

%

Consolidated

 

10,501

 

 

 

8,631

 

 

 

22

%

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

Television

 

2,795

 

 

 

2,715

 

 

 

3

%

Radio

 

869

 

 

 

800

 

 

 

9

%

Digital

 

298

 

 

 

-

 

 

 

100

%

Consolidated

 

3,962

 

 

 

3,515

 

 

 

13

%

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

Television

 

16,973

 

 

 

15,575

 

 

 

9

%

Radio

 

764

 

 

 

59

 

 

 

1,195

%

Digital

 

(695

)

 

 

-

 

 

 

100

%

Consolidated

 

17,042

 

 

 

15,634

 

 

 

9

%

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

4,993

 

 

 

4,836

 

 

 

3

%

Operating income (loss)

 

12,049

 

 

 

10,798

 

 

 

12

%

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

(3,227

)

 

 

(3,438

)

 

 

(6

)%

Interest income

 

8

 

 

 

12

 

 

 

(33

)%

Income (loss) before income taxes

$

8,830

 

 

$

7,372

 

 

 

20

%

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

Television

$

2,071

 

 

$

911

 

 

 

 

 

Radio

 

1,153

 

 

 

923

 

 

 

 

 

Digital

 

18

 

 

 

-

 

 

 

 

 

Consolidated

$

3,242

 

 

$

1,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

 

 

Total assets

 

2015

 

 

 

2014

 

 

 

 

 

Television

$

382,134

 

 

$

380,775

 

 

 

 

 

Radio

 

123,702

 

 

 

124,050

 

 

 

 

 

Digital

 

21,788

 

 

 

22,942

 

 

 

 

 

Consolidated

$

527,624

 

 

$

527,767