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Cumulus Net Revenue For Q4 Increases Less Than 1%. 2010 Net Revenue Up 2.8%

Cumulus released Q4 and 2010 results ahead of a 9AM conference call and reported net revenues for the three months ended December 31, 2010 increased $0.2 million, or 0.3%, to $69.8 million, compared to $69.6 million for the three months ended December 31, 2009. Cash revenue increased $3.8 million, or 6.2%, for the three months ending December 31, 2010, but was offset by a decrease in non-cash trade revenue of $3.6 million, or 45.6%, as compared to the three months ended December 31, 2009.

Station operating expenses for the three months ended December 31, 2010 decreased $5.0 million, or 11.4%, to $39.0 million, compared to $44.0 million for the three months ended December 31, 2009. This change is primarily attributable to a $3.4 million decrease in trade expense.

Net revenues for the year ended December 31, 2010 increased $7.3 million, or 2.8%, to $263.3 million, compared to $256.0 million for the year ended December 31, 2009, primarily due to an $8.6 million increase in national and political revenue, which was offset by a decrease of $1.3 million spread over the remainder of the revenue categories. Station operating expenses for the year ended December 31, 2010 decreased $5.9 million, or 3.5%, to $159.8 million, compared to $165.7 million for the year ended December 31, 2009.


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