| Address:
|
73 KERCHEVAL AVE
|
| City: |
GROSSE POINTE FARMS |
|
State: |
MI |
|
Zip Code: |
48236 |
| Telephone: |
313-886-7070 |
|
Description of Business
|
Primary SIC Code:
4832 |
| (As filed with the SEC)
|
|
|
We are a broadcast company primarily engaged in acquiring, developing and
operating radio and television stations. As of December 31, 2007 we owned or
operated ninety-one radio stations, five television stations, four low-power
television stations and five radio information networks serving twenty-six
markets throughout the United States. We actively seek and explore opportunities
for expansion through the acquisition of additional broadcast properties. We
review acquisition opportunities on an ongoing basis.
Recent Developments
Since January 1, 2007, we have entered into the following transactions regarding
acquisitions, Time Brokerage Agreements ("TBAs"), and Local Marketing Agreements
("LMA's") for stations serving the markets indicated. The following are included
in our results of operations for the year ended December 31, 2007:
. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2009 | -14.43 | NA | N/E | | 06/2009 | -14.38 | NA | N/E | | 03/2009 | -14.32 | NA | N/E | | 12/2008 | -56.20 | NA | N/E | | 09/2008 | 8.64 | NA | 2.64 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | -3.42 | Total Liab/Total Assets | 0.71 | | Net Inc/Total Assets | -0.30 | Total Liab/Inv Cap | 0.76 | | Net Inc/Inv Cap | -0.32 | Total Liab/Comm Equity | 8.04 | | Pretax Inc/Net Sales | -0.71 | Interest Coverage Ratio | -12.80 | | Net Inc/Net Sales | -0.48 | Curr Debt/Equity | 0.02 | | Cash Flow/Net Sales | 0.18 | LTD/Equity | 2.06 | | SG&A/NetSales | 0.07 | Total Debt/Equity | 2.08 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 6.16 | Quick Ratio | 2.26 | | Inventory Turnover | NA | Current Ratio | 2.26 | | Inventory Day Sales | NA | Net Rec/Curr Assets | 0.61 | | Net Sales/Work Cap | 7.22 | Inv/Curr Assets | NA | | Net Sales/PP&E | 1.91 | | |
Income Statement (Millions) |
| |
9/30/2009
|
6/30/2009
|
3/31/2009
|
12/31/2008
|
|
Total Revenues(Net Sales)
|
31.25
|
31.64
|
26.12
|
34.89
|
|
Cost of Goods Sold
|
23.56
|
47.24
|
NA
|
26.55
|
|
Selling & Admin Exps
|
1.91
|
-21.78
|
26.01
|
2.37
|
|
Operating Income
|
5.79
|
6.18
|
0.12
|
-110.47
|
|
Interest Exp
|
1.39
|
1.43
|
0.77
|
1.41
|
|
Pretax Income
|
4.36
|
4.78
|
-0.65
|
-111.93
|
|
Other Income
|
-0.04
|
0.03
|
0.00
|
-0.05
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
2.47
|
2.67
|
-0.36
|
-73.96
|
|
Assets
|
9/30/2009
|
6/30/2009
|
3/31/2009
|
12/31/2008
|
|
Cash & Short Term Investments
|
16.65
|
13.74
|
8.02
|
6.99
|
|
Receivables - Total
|
20.21
|
20.33
|
17.46
|
21.21
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
40.90
|
38.79
|
30.72
|
34.80
|
|
Net Property, Plant & Equipment
|
70.20
|
71.51
|
72.21
|
73.38
|
|
Total Assets
|
224.74
|
223.98
|
216.85
|
221.46
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
10.85
|
4.81
|
9.99
|
5.25
|
|
Debt in Current Liabilities
|
20.58
|
13.43
|
2.35
|
1.06
|
|
Total Current Liabilities
|
33.47
|
27.11
|
14.42
|
15.42
|
|
Long-Term Debt
|
110.00
|
120.00
|
131.06
|
134.35
|
|
Total Liabilities
|
153.63
|
155.71
|
151.61
|
156.36
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.05
|
0.05
|
0.05
|
0.05
|
|
Retained Earnings
|
50.43
|
47.96
|
45.28
|
45.65
|
|
Treasury Stock
|
-28.40
|
-28.40
|
-28.40
|
-32.55
|
|
Total Stockholders' Equity
|
71.11
|
68.28
|
65.23
|
65.10
|
|
Total Liabilities and Stockholders' Equity
|
224.74
|
223.98
|
216.85
|
221.46
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2009
|
6/30/2009
|
3/31/2009
|
12/31/2008
|
|
Net Cash Provided by Operating Activities
|
6.65
|
6.95
|
5.05
|
7.11
|
|
Net Cash Provided by Investing Activities
|
-0.88
|
-1.23
|
-1.04
|
-1.71
|
|
Net Cash Provided by Financing Activities
|
-2.86
|
0.00
|
-2.99
|
-6.40
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2004 | 134.64 | 15.84 | -- | | 12/2005 | 140.79 | 10.57 | -- | | 12/2006 | 142.95 | 12.45 | -- | | 12/2007 | 144.02 | 11.00 | -- | | 12/2008 | 139.96 | -66.49 | -56.20 | | Growth Rates | 0.97 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/09 | 28 | 2,810 | 76.69 |
|
Report Date :
3/1/2010
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