Stock Monitor: WNS (Holdings) Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 22, 2018 / Active-Investors.com has just released a free earnings report on Emmis Communications Corp. (NASDAQ EMMS) ("Emmis").If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=EMMS. The Company posted its third quarter fiscal 2018 (Q3 FY18) financial results on January 11, 2018. The leading radio broadcasting operators' revenue and earnings were below expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for WNS (Holdings) Limited (NYSE: WNS), which also belongs to the Services sector as the Company Emmis Communications. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Emmis Communications most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=EMMS
Earnings Highlights and Summary
During the third quarter of the fiscal year 2018, Emmis posted net sales of $35.35 million compared to $56.30 million in Q3 FY17, reflecting a decrease of 37.22%, due to the sale of Terre Haute radio stations in January 2017 and KPWR-FM in August 2017 and magazine sales in the last fiscal year. Emmis' pro forma radio revenues as per Miller Kaplan (an independent public accounting firm) were down 4.00% in markets that were down 2.00%. Excluding political advertising, the Company's radio revenues would have been down 3.00% in Q3 FY18.
The Company's gross margins widened to 20.82% in Q3 FY18 from 19.31% in the same period of last year. The Company's operating expenses amounted to $31.41 million in the reported quarter compared to $32.46 million in Q3 FY17, decreasing 3.24% on a y-o-y basis. Emmis' operating income was $3.93 million in Q3 FY18 compared to $23.84 million in Q3 FY17, dipping 83.50% on a y-o-y basis.
The Company's net loss was $0.28 million in the reported quarter compared to a net income of $17.68 million in Q3 FY17. The Company's net loss per share was $0.02 in Q3 FY18 compared to earnings per share (EPS) of $1.43 in the third quarter of the previous fiscal year.
Segment Details
Emmis has three business segments, namely: (i) Radio segment, (ii) Publishing segment, and (iii) Corporate and Emerging Technologies segment.
The Radio segment reported net sales of $33.98 million in Q3 FY18 compared to $42.46 million in Q3 FY17, reflecting a decline of 19.98%, due to the commencement of the local programming and marketing agreements (LMA) for KPWR-FM on July 01, 2017, and the sale of KPWR-FM on August 01, 2017. The segment's operating expenses, excluding depreciation and amortization expenses, were $23.93 million in Q3 FY18 compared to $28.98 million in Q3 FY17, decreasing 17.41% on a y-o-y basis, due to the sale of Terre Haute radio stations in the prior year and KPWR-FM in August 2017. The segment's operating income was $9.37 million for the reported quarter compared to $12.63 million for Q3 FY17, decreasing 25.79% on a y-o-y basis.
The Publishing segment posted net sales of $1.13 million in Q3 FY18 compared to $13.63 million in Q3 FY17. The decrease was due to the sale of all but one of their magazines during the year ended February 28, 2017. The segment's operating expenses were $1.13 million in Q3 FY18 compared to $13.83 million in Q3 FY17, declining 91.82% on a y-o-y basis. The operating loss of the segment was $0.53 million for the reported quarter compared to an operating income of $17.24 million for Q3 FY17, dipping 100.31% on a y-o-y basis.
The Emerging Technologies segment's net sales advanced 15.69% to $0.24 million on a y-o-y basis in the reported quarter compared to $0.20 million in Q3 FY17. The segment relates to licensing fees of their TagStation software and pricing services provided by Digonex which was the primary reason for the increase in sales, due to a client growth at Digonex. The segment's operating expenses were $2.92 million in Q3 FY18 compared to $2.62 million in Q3 FY17, increasing 11.57% on a y-o-y basis. The increase was due to the costs associated with their NextRadio application and TagStation platform. The segment's operating loss was $5.39 million in Q3 FY18 compared to $6.03 million in Q3 FY17, increasing 10.68% on a y-o-y basis.
Cash Matters
As on November 30, 2017, Emmis had cash and cash equivalents of $3.90 million compared to $2.06 million as on November 30, 2016. The Company's cash outflow from operating activities was $3.46 million in the reported quarter compared to a cash inflow of $9.70 million in Q3 FY17. During the reported quarter, the Company repurchased 15,747 shares at an average price of $3.45 per share.
Stock Performance Snapshot
January 19, 2018 - At Friday's closing bell, Emmis Communications' stock marginally climbed 0.73%, ending the trading session at $70.09.
Volume traded for the day: 614.84 thousand shares, which was above the 3-month average volume of 337.40 thousand shares.
Stock performance in the last three-month - up 7.27%; previous six-month period - up 15.76%; and past twelve-month period - up 24.52%
After last Friday's close, Emmis Communications' market cap was at $4.55 billion.
Price to Earnings (P/E) ratio was at 22.11.
The stock has a dividend yield of 0.26%.
The stock is part of the Services sector, categorized under the Broadcasting - Radio industry. This sector was up 0.7% at the end of the session.
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