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Cumulus Media Inc. (CMLS) Message Board

  • todos.nombres todos.nombres Nov 3, 2009 9:17 AM Flag


    If I pull out the intangible writeoff and the tax benefit I'm looking at 5 cents a share, sounds low.

    If I leave the tax benefit I'm looking at 75 cents a share, sounds high.

    Larger minds need to comment.....

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    • todos, I get:

      Revenue = 65.1
      Opex 49.1 (exclude imprment and deriv loss)
      Op Inc = 16.0
      Int expense 11.1

      Income before tax = $4.9 mil or about .12/share - no taxes.

      Interest expense was very high. $3.9 million of interest expense may be one time in nature as explained here in the press release, but I'm not certain (see quote from pr below). Now if you ex these $3.9 out, then Net Income becomes $8.8 before taxes or about .21/share before tax.

      "Cash interest expense associated with the yield on interest rate swap increased $3.2 million to $3.7 million from $0.5 million in the prior year’s period. The remaining $0.7 million increase is primarily due to the change in the fair value of certain derivative instruments."


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