2015 Q2 Form 10-Q Financial Statement

#000114420415047142 Filed on August 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $119.8M $108.4M
YoY Change 10.52% -9.35%
Cost Of Revenue $31.43M $33.92M
YoY Change -7.36% 3.11%
Gross Profit $88.40M $74.49M
YoY Change 18.66% -14.08%
Gross Profit Margin 73.77% 68.71%
Selling, General & Admin $42.05M $33.45M
YoY Change 25.71% -18.47%
% of Gross Profit 47.57% 44.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.20M $21.60M
YoY Change -6.48% -6.09%
% of Gross Profit 22.85% 29.0%
Operating Expenses $95.03M $86.06M
YoY Change 10.42% -15.02%
Operating Profit $24.79M $22.35M
YoY Change 10.9% 21.93%
Interest Expense $20.02M $19.26M
YoY Change 3.97% -13.71%
% of Operating Profit 80.76% 86.15%
Other Income/Expense, Net $437.0K $21.00K
YoY Change 1980.95% -30.0%
Pretax Income -$2.732M $3.197M
YoY Change -185.46% -182.97%
Income Tax $9.942M $8.605M
% Of Pretax Income 269.16%
Net Earnings -$13.04M -$10.82M
YoY Change 20.55% -23.91%
Net Earnings / Revenue -10.88% -9.98%
Basic Earnings Per Share -$0.27 -$0.23
Diluted Earnings Per Share -$0.27 -$0.23
COMMON SHARES
Basic Shares Outstanding 48.06M shares 47.47M shares
Diluted Shares Outstanding 48.06M shares 47.47M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.50M $62.60M
YoY Change -3.35% 44.24%
Cash & Equivalents $60.47M $60.02M
Short-Term Investments $2.600M
Other Short-Term Assets $3.142M $3.086M
YoY Change 1.81% 28.37%
Inventory
Prepaid Expenses $5.969M $3.915M
Receivables $99.61M $94.22M
Other Receivables $0.00 $0.00
Total Short-Term Assets $198.3M $193.0M
YoY Change 2.74% 11.55%
LONG-TERM ASSETS
Property, Plant & Equipment $30.64M $32.78M
YoY Change -6.51% -8.87%
Goodwill $275.9M $274.7M
YoY Change 0.43% 1.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.77M $3.702M
YoY Change 271.99% 58.88%
Total Long-Term Assets $1.186B $1.213B
YoY Change -2.26% -3.39%
TOTAL ASSETS
Total Short-Term Assets $198.3M $193.0M
Total Long-Term Assets $1.186B $1.213B
Total Assets $1.384B $1.406B
YoY Change -1.58% -1.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.754M $6.853M
YoY Change -16.04% -17.73%
Accrued Expenses $30.80M $22.00M
YoY Change 40.0% 42.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.625M $3.829M
YoY Change -31.44% -0.29%
Total Short-Term Liabilities $70.50M $59.58M
YoY Change 18.33% 4.73%
LONG-TERM LIABILITIES
Long-Term Debt $1.021B $817.6M
YoY Change 24.88% 0.57%
Other Long-Term Liabilities $30.47M $19.80M
YoY Change 53.89% 4.39%
Total Long-Term Liabilities $1.051B $837.4M
YoY Change 25.56% 0.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.50M $59.58M
Total Long-Term Liabilities $1.051B $837.4M
Total Liabilities $1.403B $1.144B
YoY Change 22.63% 4.19%
SHAREHOLDERS EQUITY
Retained Earnings -$1.019B -$961.0M
YoY Change 6.06% 7.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$31.32M $43.24M
YoY Change
Total Liabilities & Shareholders Equity $1.384B $1.406B
YoY Change -1.58% -1.58%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$13.04M -$10.82M
YoY Change 20.55% -23.91%
Depreciation, Depletion And Amortization $20.20M $21.60M
YoY Change -6.48% -6.09%
Cash From Operating Activities $27.60M $24.20M
YoY Change 14.05% 374.51%
INVESTING ACTIVITIES
Capital Expenditures $1.586M -$1.700M
YoY Change -193.29% -54.05%
Acquisitions
YoY Change
Other Investing Activities -$214.3M $100.0K
YoY Change -214400.0% -200.0%
Cash From Investing Activities -$215.9M -$1.600M
YoY Change 13393.75% -56.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 187.7M -8.400M
YoY Change -2334.52% 10.53%
NET CHANGE
Cash From Operating Activities 27.60M 24.20M
Cash From Investing Activities -215.9M -1.600M
Cash From Financing Activities 187.7M -8.400M
Net Change In Cash -600.0K 14.20M
YoY Change -104.23% -329.03%
FREE CASH FLOW
Cash From Operating Activities $27.60M $24.20M
Capital Expenditures $1.586M -$1.700M
Free Cash Flow $26.01M $25.90M
YoY Change 0.44% 194.32%

Facts In Submission

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CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3500000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3500000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
340375000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
11872000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
335000000 USD
CY2015Q2 roia Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
86054000 USD
CY2014Q2 roia Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
76828000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
RADIO ONE, INC.
dei Entity Central Index Key
EntityCentralIndexKey
0001041657
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
ROIA
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
65882000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
69192000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
76068000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
74068000 USD
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
25186000 USD
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
19539000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
18068000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
18506000 USD
us-gaap Operating Expenses
OperatingExpenses
185204000 USD
us-gaap Operating Expenses
OperatingExpenses
181305000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
40380000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
38181000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
35000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
134000 USD
us-gaap Interest Expense
InterestExpense
39264000 USD
us-gaap Interest Expense
InterestExpense
41118000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-285000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-45000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6225000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8527000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18472000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17183000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6831000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10289000 USD
us-gaap Net Income Loss
NetIncomeLoss
-31528000 USD
us-gaap Net Income Loss
NetIncomeLoss
-35999000 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.76
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47840082 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47453414 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
48062991 shares
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47465653 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
roia Repurchase Of Common Stock Value
RepurchaseOfCommonStockValue
1423000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1423000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
125000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
154000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-24582000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-25556000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
6831000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
10289000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-31413000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-35845000 USD
CY2015Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5578000 USD
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3975000 USD
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q2 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
FairValueDisclosureOffbalanceSheetRisksFaceAmountLiability
1000000 USD
roia Dilutive Securities Stock Options And Restrictive Stock Units
DilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0 shares
roia Dilutive Securities Stock Options And Restrictive Stock Units
DilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47840082 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47453414 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.66
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.76
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47840082 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47453414 shares
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
10836000 USD
roia Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
167136000 USD
roia Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
162799000 USD
CY2015Q2 roia Longterm Portion Of Original Issue Discount
LongtermPortionOfOriginalIssueDiscount
23299000 USD
CY2014Q4 roia Longterm Portion Of Original Issue Discount
LongtermPortionOfOriginalIssueDiscount
9088000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
350000000 USD
CY2015Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.07375 pure
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
At the Companys election, the interest rate on borrowings under the 2015 Credit Facility is based on either (i) the then applicable base rate plus 3.5% (as defined in the 2015 Credit Facility) as, for any day, a rate per annum (rounded upward, if necessary, to the next 1/100th of 1%) equal to the greater of (a) the prime rate published in the Wall Street Journal, (b) 1/2 of 1% in excess rate of the overnight Federal Funds Rate at any given time and (c) the one-month LIBOR rate commencing on such day plus 1.00%), or (ii) the then applicable LIBOR rate plus 4.5% (as defined in the 2015 Credit Facility).
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1200000 USD
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
293338 shares
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
75300 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
293338 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
75300 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
92040 shares
CY2014Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
92040 shares
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P12M9D
CY2014Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
2911000 USD
CY2014Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
19037000 USD
CY2015Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
roia Acquisition Of Additionalship Interest
AcquisitionOfAdditionalshipInterest
221736000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
65000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
5000000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
209864000 USD
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
350000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
119000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
CY2015Q2 roia Increase In Tax Basis Of Assets Acquired
IncreaseInTaxBasisOfAssetsAcquired
196700000 USD
us-gaap Notes Assumed1
NotesAssumed1
11872000 USD
us-gaap Notes Assumed1
NotesAssumed1
0 USD
CY2015Q2 roia Loss On Retirement Of Debt
LossOnRetirementOfDebt
-7100000 USD
CY2015Q2 roia Pro Forma Last Twelve Months Covenant Ebitda
ProFormaLastTwelveMonthsCovenantEbitda
137500000 USD
roia Pro Forma Last Twelve Months Interest Expense
ProFormaLastTwelveMonthsInterestExpense
74700000 USD
CY2015Q2 us-gaap Senior Notes
SeniorNotes
641000000 USD

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