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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Aug. 31, 2013
Aug. 31, 2012
Aug. 31, 2013
Aug. 31, 2012
NET REVENUES $ 54,967 $ 52,929 $ 105,553 $ 101,897
OPERATING EXPENSES:        
Station operating expenses excluding depreciation and amortization expense of $680, $665, $1,344 and $1,321, respectively 41,938 39,778 79,650 80,350
Corporate expenses excluding depreciation and amortization expense of $489, $548, $950 and $1,068, respectively 5,070 4,161 9,470 9,133
Hungary license litigation and related expenses 1,043 210 1,295 414
Impairment loss on intangible assets 0 0 0 10,971
Depreciation and amortization 1,213 1,169 2,389 2,294
Gain on sale of assets (1) (6) (1) (10,006)
Total operating expenses 49,263 45,312 92,803 93,156
OPERATING INCOME 5,704 7,617 12,750 8,741
OTHER EXPENSE:        
Interest expense (1,808) (6,878) (3,729) (12,645)
Loss on debt extinguishment 0 (601) 0 (1,085)
Other income, net 33 (215) 40 (17)
Total other expense (1,775) (7,694) (3,689) (13,747)
(LOSS) INCOME BEFORE INCOME TAXES AND DISCONTINUED OPERATIONS 3,929 (77) 9,061 (5,006)
(BENEFIT) PROVISION FOR INCOME TAXES 4 (1,509) 179 (5,924)
INCOME FROM CONTINUING OPERATIONS 3,925 1,432 8,882 918
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX 0 38,776 0 36,417
CONSOLIDATED NET INCOME 3,925 40,208 8,882 37,335
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS 1,354 1,217 2,835 2,479
NET INCOME ATTRIBUTABLE TO THE COMPANY 2,571 38,991 6,047 34,856
GAIN ON EXTINGUISHMENT OF PREFERRED STOCK 76 0 325 0
PREFERRED STOCK DIVIDENDS 0 (910) 0 (1,806)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 2,647 38,081 6,372 33,050
Amounts attributable to common shareholders for basic and diluted earnings per share:        
Continuing operations 2,647 (695) 6,372 (3,367)
Discontinued operations 0 38,776 0 36,417
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 2,647 38,081 6,372 33,050
Amounts attributable to common shareholders for diluted earnings per share:        
Continuing operations 2,571 (695) 6,047 (3,367)
Discontinued operations 0 38,776 0 36,417
Net income attributable to common shareholders $ 2,571 $ 38,081 $ 6,047 $ 33,050
Basic net (loss) income per share attributable to common shareholders:        
Continuing operations $ 0.06 $ (0.02) $ 0.15 $ (0.09)
Discontinued operations, net of tax $ 0.00 $ 1.00 $ 0.00 $ 0.94
Net income per share attributable to common shareholders $ 0.06 $ 0.98 $ 0.15 $ 0.85
Basic weighted average common shares outstanding 41,451 38,859 41,313 38,819
Diluted net (loss) income per share attributable to common shareholders:        
Continuing operations $ 0.05 $ (0.02) $ 0.13 $ (0.09)
Discontinued operations, net of tax $ 0.00 $ 1.00 $ 0.00 $ 0.94
Net income per share attributable to common shareholders $ 0.05 $ 0.98 $ 0.13 $ 0.85
Diluted weighted average common shares outstanding 46,937 38,859 46,361 38,819