Quarterly Results of Operations |
| | March 31, | | June 30, | | September 30, | | December 31, | | | | 2016 | | 2015 | | 2016 | | 2015 | | 2016 | | 2015 | | 2016 | | 2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands, except per share data) | | Net operating revenue | | $ | 32,745 | | $ | 29,061 | | $ | 36,438 | | $ | 34,358 | | $ | 36,119 | | $ | 33,831 | | $ | 37,289 | | $ | 35,606 | | Station operating expenses | | | 24,685 | | | 22,765 | | | 25,420 | | | 24,311 | | | 25,459 | | | 24,324 | | | 25,978 | | | 25,868 | | Corporate G&A | | | 2,717 | | | 2,482 | | | 2,620 | | | 2,583 | | | 2,728 | | | 2,577 | | | 2,915 | | | 2,449 | | Other operating expense (income), net | | | — | | | — | | | 8 | | | 14 | | | (1,393) | | | 433 | | | (8) | | | 94 | | Impairment of intangible assets | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | 874 | | Operating income from continuing operations | | | 5,343 | | | 3,814 | | | 8,390 | | | 7,450 | | | 9,325 | | | 6,497 | | | 8,404 | | | 6,321 | | Other (income) expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | Interest expense | | | 189 | | | 241 | | | 189 | | | 244 | | | 196 | | | 229 | | | 202 | | | 174 | | Write-off of debt issuance costs | | | — | | | — | | | — | | | — | | | — | | | 557 | | | — | | | — | | Other (income) expenses | | | — | | | (8) | | | — | | | (409) | | | — | | | — | | | — | | | — | | Income before income tax | | | 5,154 | | | 3,581 | | | 8,201 | | | 7,615 | | | 9,129 | | | 5,711 | | | 8,202 | | | 6,147 | | Income tax provision | | | 2,130 | | | 1,450 | | | 3,390 | | | 3,141 | | | 3,715 | | | 2,599 | | | 3,265 | | | 2,450 | | Net income | | $ | 3,024 | | $ | 2,131 | | $ | 4,811 | | $ | 4,474 | | $ | 5,414 | | $ | 3,112 | | $ | 4,937 | | $ | 3,697 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Basic earnings per share | | $ | .52 | | $ | .37 | | $ | .82 | | $ | .77 | | $ | .92 | | $ | .54 | | $ | .84 | | $ | .63 | | Weighted average common shares | | | 5,751 | | | 5,710 | | | 5,754 | | | 5,712 | | | 5,755 | | | 5,724 | | | 5,785 | | | 5,732 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Diluted earnings per share | | $ | .52 | | $ | .36 | | $ | .82 | | $ | .77 | | $ | .92 | | $ | .53 | | $ | .84 | | $ | .63 | | Weighted average common and common equivalent shares | | | 5,759 | | | 5,762 | | | 5,763 | | | 5,757 | | | 5,764 | | | 5,752 | | | 5,797 | | | 5,741 | |
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