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Segment Information (Tables)
3 Months Ended
Mar. 31, 2017
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, 2017 and 2016. The Company evaluates the performance of its operating segments based on the following (in thousands):

 

 

Three-Month Period

 

 

 

 

 

 

Ended March 31,

 

 

%

 

 

 

2017

 

 

 

2016

 

 

Change

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

Television

$

37,710

 

 

$

36,565

 

 

 

3

%

Radio

 

15,719

 

 

 

16,884

 

 

 

(7

)%

Digital

 

4,081

 

 

 

4,664

 

 

 

(13

)%

Consolidated

 

57,510

 

 

 

58,113

 

 

 

(1

)%

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue - digital media

 

1,752

 

 

 

1,839

 

 

 

(5

)%

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

Television

 

14,754

 

 

 

15,034

 

 

 

(2

)%

Radio

 

11,017

 

 

 

10,941

 

 

 

1

%

Digital

 

1,321

 

 

 

1,590

 

 

 

(17

)%

Consolidated

 

27,092

 

 

 

27,565

 

 

 

(2

)%

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

Television

 

5,451

 

 

 

5,446

 

 

 

0

%

Radio

 

4,704

 

 

 

4,888

 

 

 

(4

)%

Digital

 

1,045

 

 

 

1,101

 

 

 

(5

)%

Consolidated

 

11,200

 

 

 

11,435

 

 

 

(2

)%

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

Television

 

2,463

 

 

 

2,867

 

 

 

(14

)%

Radio

 

726

 

 

 

790

 

 

 

(8

)%

Digital

 

357

 

 

 

370

 

 

 

(4

)%

Consolidated

 

3,546

 

 

 

4,027

 

 

 

(12

)%

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

Television

 

15,042

 

 

 

13,218

 

 

 

14

%

Radio

 

(728

)

 

 

265

 

 

*

 

Digital

 

(394

)

 

 

(236

)

 

 

67

%

Consolidated

 

13,920

 

 

 

13,247

 

 

 

5

%

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

5,867

 

 

 

5,604

 

 

 

5

%

Operating income

 

8,053

 

 

 

7,643

 

 

 

5

%

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

$

(3,645

)

 

$

(3,866

)

 

 

-6

%

Interest income

 

109

 

 

 

7

 

 

 

1,457

%

Income before income taxes

 

4,517

 

 

 

3,784

 

 

 

19

%

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

Television

$

967

 

 

$

1,419

 

 

 

 

 

Radio

 

268

 

 

 

771

 

 

 

 

 

Digital

 

9

 

 

 

49

 

 

 

 

 

Consolidated

$

1,244

 

 

$

2,239

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

 

 

Total assets

 

2017

 

 

 

2016

 

 

 

 

 

Television

 

363,738

 

 

 

363,852

 

 

 

 

 

Radio

 

128,928

 

 

 

129,825

 

 

 

 

 

Digital

 

21,599

 

 

 

24,244

 

 

 

 

 

Consolidated

$

514,265

 

 

$

517,921

 

 

 

 

 

 

*

Percentage not meaningful.