BeaconEquity.com announces the publication of an article covering Citadel Broadcasting’s 2008 fourth-quarter financial results.
Investors can view all of the investment articles for free by visiting: http://www.beaconequity.com/m
In the article the author writes:
“Citadel Broadcasting Corp. (OTCBB: CTDB), the third-largest radio group in the United States, recently announced its financial results for the fourth quarter of 2008. … The Las Vegas, Nevada-based company reported net revenue for the fourth quarter of $214.2 million, compared with $245.5 million in the fourth quarter of last year, or a drop of 12.7% from the prior year. The company states the decrease in revenue was due to under-performance in its advertising revenue, including $27.9 million from its Radio Markets and $3.4 million from the Radio Network.”
Citadel’s operating income was down 22.1%:
“Segment operating income decreased $19.1 million, or 22.1%, for the fourth quarter of 2008, compared with $86.4 million for the fourth quarter last fiscal year. An $18.6 million decline in segment operating income was reported from the Radio Markets and a $500,000 decline from the Radio Network.”
To read the entire article visit http://www.beaconequity.com/m
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Source: BeaconEquity.com
Beacon Equity Research
Jeff Bishop, (469)-252-3505
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