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v3.3.1.900

Consolidated Statements of Operations - USD ($) shares in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
Revenue (less agency commissions) | $ 597,356,000 | $ 508,134,000 | $ 346,298,000
Operating expenses before depreciation, amortization, and loss on disposals of assets, net: |  |  |
Broadcast | 374,182,000 | 285,990,000 | 217,411,000
Corporate and administrative | 34,343,000 | 29,203,000 | 19,810,000
Depreciation | 36,712,000 | 30,248,000 | 24,096,000
Amortization of intangible assets | 11,982,000 | 8,297,000 | 336,000
Loss on disposals of assets, net | 80,000 | 623,000 | 765,000
Operating expenses | 457,299,000 | 354,361,000 | 262,418,000
Operating income | 140,057,000 | 153,773,000 | 83,880,000
Other income (expense): |  |  |
Miscellaneous income, net | 103,000 | 23,000 | 0
Interest expense | (74,411,000) | (68,913,000) | (52,445,000)
Loss from early extinguishment of debt | 0 | (5,086,000) | 0
Income before income taxes | 65,749,000 | 79,797,000 | 31,435,000
Income tax expense | 26,448,000 | 31,736,000 | 13,147,000
Net trade income (loss) | $ 39,301,000 | $ 48,061,000 | $ 18,288,000
Basic per share information: |  |  |
Net income (in dollars per share) | $ 0.58 | $ 0.83 | $ 0.32
Weighted-average shares outstanding – basic (in shares) | 68,330 | 57,862 | 57,630
Diluted per share information: |  |  |
Net income (in dollars per share) | $ 0.57 | $ 0.82 | $ 0.32
Weighted average shares outstanding (in shares) | 68,987 | 58,364 | 57,972
Dividends declared per common share (in dollars per share) | $ 0 | $ 0 | $ 0

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