Townsquare Media, Inc. (TSQ) on Monday reported a profit in its fourth quarter, compared to prior year's loss, mainly with improved revenues.
Further, the Board of Directors approved a quarterly cash dividend of $0.20 per share. The dividend will be payable on May 1, to shareholders of record as of the close of business on April 17.
The cash dividend of $0.80 per share on an annual basis reflects a 1.3 percent increase from the prior dividend.
Looking ahead, for the first quarter, net revenue is expected to be between $98 million and $100 million, and Adjusted EBITDA is expected to be between $17 million and $18 million.
Further, for fiscal 2025, the company projects net revenue between $435 million and $455 million, and Adjusted EBITDA between $90 million and $98 million.
In fiscal 2024, net revenue was $451.0 million and adjusted EBITDA was $100.4 million.
In its fourth quarter, net income was $25.04 million, compared to a net loss of $1.88 million in the same period last year. Earnings per share were $1.42, compared to loss per share of $0.14 last year.
The increase was primarily due to a $23.4 million decrease in non-cash impairment charges, among other things.
Adjusted net income was $10.32 million or $0.60 per share, compared to $6.07 million or $0.34 per share last year.
Net revenue for the three months increased 2.6 percent to $117.81 million from $114.79 million in the same period in 2023. Net revenue decreased 2.2 percent excluding political.
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