Townsquare Media Turns To Q4 Loss
(RTTNews) - Townsquare Media, Inc. (TSQ), a community-focused digital media and digital marketing solutions company, Friday reported loss of 2.34 million or $0.14 per share for the fourth quarter, compared with profit of $3.46 million or $0.20 per share in the same quarter a year ago.
This was primarily due to a $14 million increase in non-cash impairment charges, and a $5.5 million decrease in revenue.
Excluding special items, the company posted earnings of $6.07 million or $0.34 per share.
Revenue for the quarter decreased 4.6 percent to $114.7 million as compared to $120.28 million in the same period last year.
On average, 3 analysts polled by Thomson-Reuters expected the company to report profit of $0.27 per share on revenue of $111.85 million for the quarter. Analysts' estimates typically exclude special items.
The company has declared a quarterly dividend of $0.1975 per share, payable on May 1, to shareholders of record on April 5.
Looking ahead, Townsquare Media expects first-quarter revenue in the range of $98.5 million- $100 million. The consensus estimate stands at $103.02 million.
For the full year, revenue is expected between $440 million and $460 million. The Street is looking for revenue of $465.2 million for the year.
