| REGENT COMMUNICATIONS, INC. | |||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||
| (in thousands, except per share amounts) | |||||||||
| Year ended December 31, | |||||||||
| 2001 | 2000 | 1999 | |||||||
| Gross broadcast revenues | $59,339 | $48,324 | $25,613 | ||||||
| Less agency commissions | 5,594 | 4,217 | 1,759 | ||||||
| Net broadcast revenues | 53,745 | 44,107 | 23,854 | ||||||
| Station operating expenses | 38,530 | 30,173 | 18,325 | ||||||
| Depreciation and amortization | 13,436 | 8,602 | 3,368 | ||||||
| Corporate general and administrative expenses | 4,857 | 4,501 | 2,773 | ||||||
| Operating (loss) income | (3,078) | 831 | (612) | ||||||
| Interest expense | (3,279) | (4,229) | (5,249) | ||||||
| Gain (loss) on exchange/sale of radio stations | 4,444 | 17,504 | (602) | ||||||
| Other (expense) income, net | (465) | 860 | 163 | ||||||
| (Loss) income before income taxes and extraordinary items | (2,378) | 14,966 | (6,300) | ||||||
| Income tax benefit | 665 | 0 | 0 | ||||||
| (Loss) income before extraordinary items | (1,713) | 14,966 | (6,300) | ||||||
| Extraordinary loss from debt extinguishment, net of taxes | 0 | (1,114) | (471) | ||||||
| Net (loss) income | (1,713) | 13,852 | (6,771) | ||||||
| Loss applicable to common shares | |||||||||
| Net (loss) income | (1,713) | 13,852 | (6,771) | ||||||
| Preferred stock dividend requirements | 0 | (629) | (5,205) | ||||||
| Preferred stock accretion | 0 | (26,611) | (17,221) | ||||||
| Loss applicable to common shares | (1,713) | (13,388) | (29,197) | ||||||
| Basic and diluted loss per common share: | |||||||||
| Loss before extraordinary items | ($0.05) | ($0.39) | ($119.69) | ||||||
| Extraordinary items | 0.00 | (0.03) | (1.96) | ||||||
| Net loss per common share | ($0.05) | ($0.42) | ($121.65) | ||||||