Financial Report Card At a Glance- Report on Cumulus Media

NEW YORK, September 16, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Cumulus Media Inc. (NASDAQ: CMLS). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=CMLS

Highlights from our CMLS Report include:

• Second Quarter Results - On July 30, 2015, Cumulus Media Inc., announced its financial results for the second quarter and first half of 2015. The Company reported net revenues of $299.3 million in Q2 2015, reflecting a decrease of 8.8% from $328.2 million reported in the Q2 2014. Operating income was recorded at $48.0 million, down by 17.8% YoY. Moreover, net income for the period amounted to $12.3 million as against $15.1 million in previous year quarter. In addition, diluted earnings was recorded at $0.05, compared to $0.06 in the prior year quarter. Further, adjusted EBITDA declined 19.6%, from $100.5 million in Q2 2014 to $80.8 million in Q2 2015.

• Segmental Performance at Glance - The Company's broadcast advertising segment generated net revenue of $275.8 million in Q2 2015, versus $301.0 million in previous year quarter. The Company added that the decrease resulted from decline of 3.9%, 10.8% and 16.0% YoY in revenue, from local, national and network sources, respectively. In addition, digital advertising segment reported revenue of $10.4 million, down by 19.5% YoY. Further, net revenue from political advertising segment amounted to $1.4 million, lower than $3.8 million reported in same period last year. On the other hand, revenue from license fees & other segment came at $11.7 million, up by 11.5% from $10.5 million in prior year quarter.

• Year-to-Date Financial Highlights - In first six months of 2015, the Company reported net revenues of $570.4 million, reflecting a decrease of 8.0% from $620.3 million reported in the first half of 2014. Cumulus Media noted that the decrease in net revenue resulted from decline of $44.1 million, $4.1 million, and $3.9 million in revenue from broadcasting advertising, digital advertising, and political advertising, respectively. In addition, net income for H1 2015 amounted to $0.3 million as against net income of $5.9 million in previous year period. Further, adjusted EBITDA declined 21.2%, from $159.3 million in prior year period to $125.5 million in first half of 2015.

• Balance Sheet Position - The Company's total assets as of June 30, 2015, amounted to $3.70 billion compared to $3.74 billion as of December 31, 2014. Cash and cash equivalent increased from $7.3 million as on December 31, 2014, to $32.7 million as on June 30, 2015. Further, total liabilities as at June 30, 2015, were at $3.16 billion, against $3.20 billion as at December 31, 2014.

To find out how this influences our rating on Cumulus Media Inc., Limited read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=CMLS

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