CUMULUS MEDIA INC CMLS Income Statement

Cumulus media inc (CMLS)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Net revenue
227,914	-	-	-	267,496	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Broadcast revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	274,160	280,745	235,965	221,071	124,332	61,116	56,733	66,434	68,739
Management fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,190	296	30	84	458	1,125	1,125	1,021	1,000
Net revenue
-	-	-	-	-	-	-	-	-	-	287,240	290,531	264,030	-	286,136	287,193	268,530	308,825	289,441	299,334	271,079	329,247	313,885	328,247	292,044	275,458	262,535	270,306	217,839	209,886	275,350	281,041	235,995	221,155	124,790	62,241	57,858	67,455	69,739
Operating expenses:
Content costs
88,566	-	-	-	103,752	-	-	-	-	-	96,321	93,289	101,780	-	115,348	97,133	100,045	109,771	94,829	91,019	100,807	116,727	106,574	101,802	108,493	75,106	65,559	62,255	61,951	-240,031	161,740	168,746	153,627	138,375	73,710	35,281	37,555	40,486	40,416
Selling, general and administrative expenses
103,627	-	-	-	113,503	-	-	-	-	-	119,293	120,506	114,390	-	117,387	117,860	117,227	126,910	115,562	118,548	116,307	116,853	119,864	118,389	115,335	110,805	99,202	99,894	93,480	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
12,790	-	-	-	14,590	-	-	-	-	-	15,208	16,120	16,282	-	21,957	22,969	23,097	25,523	25,547	25,724	25,311	28,180	29,143	29,071	28,881	29,697	27,614	27,604	27,596	29,254	35,239	36,200	34,882	33,813	11,025	1,769	2,123	2,222	2,391
Local marketing agreement fees
1,047	-	-	-	1,043	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Local marketing agreement fees
-	-	-	-	-	-	-	-	-	-	2,717	2,713	2,707	-	2,481	2,482	5,388	2,544	2,515	2,572	2,498	1,969	2,021	1,648	1,557	1,423	609	738	946	813	928	885	839	754	530	560	581	607	364
Corporate expenses
11,809	-	-	-	12,517	-	-	-	-	-	10,853	10,473	10,955	-	9,960	11,414	12,654	13,192	34,253	12,496	13,462	23,214	14,756	19,264	19,194	26,313	11,757	7,742	14,018	10,965	12,979	16,802	16,692	28,839	44,654	9,139	8,129	4,680	5,079
Loss on sale or disposal of assets or stations
-1,816	-	-	-	-26	-	-	-	-	-	83	-104	2,606	-	94,014	3,146	-5	-2,064	-57	84	-819	71	373	360	538	23	5,198	-227	-1,309	-	0	0	-	-	-	-	-	-	-
Impairment of assets held for sale
-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on exchange of assets or stations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,061	0	120	15,158	-	-
Gain on derivative instrument
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-820	-172	2,106	738	636	129	-841	88	-	-1,436	-	-	-	-
Impairment of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	1,816	-	-	565,584	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,308	1,056	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized loss on derivative instrument
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,205	40	746	480
Impairment of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	12,435	-	-	-	-	-	-	-
Total operating expenses
219,655	-	-	-	245,431	-	-	-	-	-	244,309	243,205	243,508	-	173,119	250,528	258,416	280,004	856,655	251,331	259,204	286,872	271,985	269,814	272,922	244,141	199,715	196,354	198,562	292,717	210,757	235,909	205,952	203,529	131,355	47,834	33,270	48,741	48,730
Operating income
8,259	-	-	-	22,065	-	-	-	-	-	42,931	47,326	20,522	-	113,017	36,665	10,114	28,821	-567,214	48,003	11,875	42,375	41,900	58,433	19,122	31,317	62,820	73,952	19,277	-82,831	64,593	45,132	30,043	17,626	-6,565	14,407	24,588	18,714	21,009
Non-operating expense:
Reorganization items, net
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
17,159	-	-	-	22,156	-	-	-	-	-	35,335	34,344	34,063	-	34,929	34,486	34,481	35,592	35,691	35,412	34,984	36,153	36,647	36,468	36,265	44,323	45,502	44,197	44,252	49,395	49,757	49,619	50,803	-	19,503	9,178	-	-	7,315
Interest expense, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,318	7,586	-
Interest income
2	-	-	-	4	-	-	-	-	-	34	35	37	-	139	140	85	26	22	27	358	363	352	342	331	-	308	364	-	-	-	-	-	-	-	-	-2	-	2
Gain (Loss) on Extinguishment of Debt
0	-	-	-	381	-	-	-	-	-	-1,063	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-4,539	-	-	0	-	-	-	-	-4,366	-	-	-
Other expense, net
-2	-	-	-	-28	-	-	-	-	-	-36	-111	83	-	882	-4	720	1,604	-151	12,373	379	367	443	3,593	-65	-57	-139	-393	287	-2,443	-224	-74	262	-	182	-92	-	-6	-28
Gain on equity investment in Cumulus Media Partners, LLC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,636	-	-	-	-
Total non-operating expense, net
-17,159	-	-	-	-21,799	-	-	-	-	-	-36,400	-34,420	-33,943	-	-33,908	-34,350	-33,676	-20,740	-35,820	-23,012	-34,247	-35,423	-35,852	-32,533	-35,999	-74,154	-45,333	-48,765	-43,965	-53,324	-49,981	-49,693	-50,541	-52,017	-7,685	-13,636	-6,320	-7,592	-7,341
(Loss) income before income taxes
-8,900	-	23,000	-	266	31,272	17,800	524,400	-5,100	-	6,531	12,906	-13,421	-	79,109	2,315	-23,562	8,072	-603,034	25,000	-22,372	6,952	6,048	25,900	-16,877	-42,837	17,487	25,187	-24,688	-136,155	14,612	-4,561	-20,498	-34,391	-14,250	771	18,268	11,122	13,668
Income tax benefit
-1,549	32,848	6,600	-17,000	-185	-17,453	5,100	-176,700	-100	-	5,257	7,234	-6,026	-	32,788	1,249	-9,133	12,680	-60,855	12,692	-10,357	3,591	3,508	10,763	-7,608	-87,507	6,995	10,073	1,975	-11,805	-12,175	-2,798	-7,892	57,380	-69,206	-1,582	2,149	1,391	1,364
(Loss) income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,670	10,492	15,114	-26,663	-124,350	26,787	-1,763	-12,606	-	-	-	-	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	54,956	-811	-	-	-
Income from discontinued operations, net of taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106,263	-3,455	11,987	17,675	39,563	29,258	9,906	476	-	4,582	2,152	-	-	-
Net Income (Loss) Attributable to Parent
-7,351	-	-	-	451	-	-	-	-	-	1,274	5,672	-7,395	-	46,321	1,066	-14,429	-4,599	-542,179	12,299	-12,015	3,361	2,540	15,137	-9,269	150,933	7,037	27,101	-8,988	-84,787	56,045	8,143	-12,130	-13,138	59,538	1,341	16,119	9,731	12,304
Less: dividends declared and accretion of redeemable preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,369	3,155	3,152	3,667	5,274	6,791	5,700	-	382	0	-	-	-
(Loss) income attributable to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	150,933	2,668	23,946	-12,140	-88,454	50,771	1,352	-17,830	-19,717	59,156	1,341	16,119	-	-
Earnings Per Share [Abstract]
Income from discontinued operations per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.47	-0.02	0.06	0.10	0.28	0.14	0.06	0.01	-	0.06	0.05	-	-	-
Basic: Earnings per share (USD per share)
-0.36	-	-	-	0.02	-	-	-	-	-	0.04	0.19	-0.25	-	1.58	0.04	-0.49	-	-18.57	0.05	-	-	-	-	-	0.71	0.01	0.11	-0.07	-0.46	0.24	0.01	-0.12	-0.39	0.78	0.03	0.38	0.23	0.29
Income from discontinued operations per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.46	-0.02	0.06	0.10	0.28	0.14	0.06	0.01	-	0.06	0.05	-	-	-
Diluted: Earnings per share (USD per share)
-0.36	-	-	-	0.02	-	-	-	-	-	0.04	0.19	-0.25	-	1.58	0.04	-0.49	-	-18.57	0.05	-	-	-	-	-	0.70	0.01	0.11	-0.07	-0.46	0.24	0.01	-0.12	-0.32	0.72	0.03	0.37	0.23	0.29
Basic: Income (loss) per share (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.06	-	0.24	0.03	0.05	-0.17	-0.74	0.10	-0.05	-0.13	-	0.72	-0.02	-	-	-
Diluted: Income (loss) per share (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.06	-	0.24	0.03	0.05	-0.17	-0.74	0.10	-0.05	-0.13	-	0.66	-0.02	-	-	-
Weighted Average Number of Shares Outstanding, Basic
20,225	-	-	-	20,047	-	-	-	-	-	29,306	29,306	29,306	-	29,275	29,291	29,256	-	29,194	233,278	-	-	231,885	224,456	-	203,672	179,669	176,481	174,748	-326,719,821	169,510,007	157,710,861	149,369	141,931	60,295	40,762	40,572	40,371	40,327
Weighted Average Number of Shares Outstanding, Diluted
20,225	-	-	-	20,209	-	-	-	-	-	29,306	29,306	29,306	-	29,275	29,336	29,256	-	29,194	233,486	-	-	233,222	229,069	-	209,945	183,131	179,553	174,748	-333,562,081	176,352,267	157,710,861	149,369	134,378	66,740	40,762	41,679	41,466	41,468
Basic and diluted loss per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-	-	-	-0.04	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average basic and diluted common shares outstanding
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	233,125	-	-	-	215,703	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Successor Company
Net revenue
-	-	280,808	279,673	-	-	282,254	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Content costs
-	-	98,335	93,844	-	-	127,464	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative expenses
-	-	115,289	115,817	-	-	151,779	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	11,885	13,545	-	-	18,521	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate expenses (including stock-based compensation expense of $1,492, and $1,131, respectively, and restructuring costs of $1,764 and $2,738 respectively)
-	-	11,905	22,675	-	-	21,003	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale or disposal of assets or stations
-	-	8,188	47,750	-	-	-34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of assets held for sale
-	-	5,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	235,128	198,569	-	-	320,165	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
-	-	45,680	81,104	-	-	57,093	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non operating, Reorganizational Gains (Losses)
-	-	-	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
-	-	22,754	21,191	-	-	28,579	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	9	8	-	-	20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense), net
-	-	18	-34	-	-	-3,157	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total non-operating expense, net
-	-	-22,727	-21,217	-	-	-31,716	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income tax expense
-	-	22,953	59,887	-	-	25,377	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
-	-	6,630	17,026	-	-	7,684	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-	-	16,323	42,861	-	-	12,713	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic: Earnings per share (USD per share)
-	-	0.81	2.13	-	-	0.88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted: Earnings per share (USD per share)
-	-	0.81	2.11	-	-	0.88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Basic
-	-	20,164	20,125	-	-	20,009	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Diluted
-	-	20,216	-	-	-	20,051	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Predecessor Company
Net revenue
-	-	-	-	-	-	282,254	190,245	263,679	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Content costs
-	-	-	-	-	-	98,494	61,019	102,866	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative expenses
-	-	-	-	-	-	114,345	83,195	112,083	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	14,142	10,065	11,981	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate expenses (including stock-based compensation expense of $1,492, and $1,131, respectively, and restructuring costs of $1,764 and $2,738 respectively)
-	-	-	-	-	-	10,878	6,682	10,487	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale or disposal of assets or stations
-	-	-	-	-	-	-34	-147	-11	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of assets held for sale
-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	-	-	-	-	238,899	161,810	238,535	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
-	-	-	-	-	-	43,355	28,435	25,144	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non operating, Reorganizational Gains (Losses)
-	-	-	-	-	-	-	496,368	-30,167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
-	-	-	-	-	-	22,403	132	128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	-	-	-	-	16	21	29	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense), net
-	-	-	-	-	-	-3,177	-276	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total non-operating expense, net
-	-	-	-	-	-	-25,564	495,981	-30,263	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income tax expense
-	-	-	-	-	-	17,791	524,416	-5,119	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
-	-	-	-	-	-	5,078	-176,741	-118	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-	-	-	-	-	-	12,713	701,157	-5,001	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic: Earnings per share (USD per share)
-	-	-	-	-	-	0.64	23.90	-0.17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted: Earnings per share (USD per share)
-	-	-	-	-	-	0.63	23.90	-0.17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Basic
-	-	-	-	-	-	20,005	29,338	29,306	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Diluted
-	-	-	-	-	-	20,070	29,338	29,306	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-