Posted: Tue., Jun. 26, 2001, 2:41pm PT

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Fiscal static shorts Emmis

Co. notes that divisions continue to outperform markets

Radio and TV broadcaster Emmis Communications Tuesday posted a net loss of $13.5 million for its fiscal first quarter ended in May on significantly higher interest expense, depreciation and amortization.

The Indianapolis company earned $5.9 million in the year earlier period.

Revenue rose 37% to $100 million. Operating income eased to $15.4 million from $18.6 million.

Emmis, however, noted that its divisions continue to outperform their markets despite softening ad sales and tough year-on-year comparisons.

Company lowered guidance for its TV division for the current fiscal year due to weaker advertising. It let Wall Street know that it now expects revenue of $216 million and broadcast cash flow of $76 million for the unit.

Emmis owns 15 TV stations and 23 large-market radio stations.

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