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v3.5.0.2

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015
Revenue (less agency commissions) | $ 204,490,000 | $ 151,102,000 | $ 574,846,000 | $ 427,869,000
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net: |  |  |  |
Broadcast | 120,717,000 | 98,921,000 | 346,620,000 | 272,213,000
Corporate and administrative | 7,223,000 | 10,022,000 | 31,425,000 | 23,313,000
Depreciation | 11,494,000 | 9,354,000 | 34,237,000 | 26,906,000
Amortization of intangible assets | 4,235,000 | 3,213,000 | 12,365,000 | 8,715,000
(Gain) loss on disposals of assets, net | 354,000 | 248,000 | (66,000) | 562,000
Operating expenses | 144,023,000 | 121,758,000 | 424,581,000 | 331,709,000
Operating income | 60,467,000 | 29,344,000 | 150,265,000 | 96,160,000
Other income (expense): |  |  |  |
Miscellaneous income, net | 30,000 | 28,000 | 740,000 | 102,000
Interest expense | (27,926,000) | (18,645,000) | (73,470,000) | (55,762,000)
Loss from early extinguishment of debt | (31,987,000) |  | (31,987,000) |
Income before income taxes | 584,000 | 10,727,000 | 45,548,000 | 40,500,000
Income tax expense | 797,000 | 4,118,000 | 19,109,000 | 16,186,000
Net (loss) income | $ (213,000) | $ 6,609,000 | $ 26,439,000 | $ 24,314,000
Basic per share information: |  |  |  |
Net (loss) income (in dollars per share) |  | $ 0.09 | $ 0.37 | $ 0.36
Weighted-average shares outstanding (in shares) | 71,879 | 71,638 | 71,850 | 67,215
Diluted per share information: |  |  |  |
Net (loss) income (in dollars per share) |  | $ 0.09 | $ 0.36 | $ 0.36
Weighted-average shares outstanding (in shares) | 71,879 | 72,341 | 72,723 | 67,824
Dividends declared per common share (in dollars per share) | $ 0 | $ 0 |  |

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