Delaware
|
0-25969
|
52-1166660
|
||
(State or Other Jurisdiction
of Incorporation)
|
(Commission File No.)
|
(IRS Employer
Identification No.)
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Class
|
Trading Symbol
|
Name of Exchange on which Registered
|
Class A Common Stock, $.001 Par Value
|
UONE
|
NASDAQ Capital Market
|
Class D Common Stock, $.001 Par Value
|
UONEK
|
NASDAQ Capital Market
|
|
|||
Exhibit Number
|
Description
|
||
|
|||
99.1
|
Press release dated November 12, 2020 Urban One, Inc. Reports Third Quarter Results.
|
RESULTS OF OPERATIONS
|
||||||||||||||||
Three Months Ended September 30,
|
Nine Months Ended September 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
STATEMENT OF OPERATIONS
|
(unaudited)
|
(unaudited) |
(unaudited)
|
(unaudited) | ||||||||||||
(in thousands, except share data)
|
(in thousands, except share data)
|
|||||||||||||||
NET REVENUE
|
$
|
91,912
|
$
|
111,055
|
$
|
262,795
|
$
|
331,075
|
||||||||
OPERATING EXPENSES
|
||||||||||||||||
Programming and technical, excluding stock-based compensation
|
24,202
|
31,037
|
75,684
|
93,779
|
||||||||||||
Selling, general and administrative, excluding stock-based compensation
|
23,516
|
36,374
|
75,109
|
115,174
|
||||||||||||
Corporate selling, general and administrative, excluding stock-based compensation
|
7,893
|
8,053
|
23,365
|
26,245
|
||||||||||||
Stock-based compensation
|
794
|
1,881
|
1,455
|
2,592
|
||||||||||||
Depreciation and amortization
|
2,489
|
2,593
|
7,419
|
14,451
|
||||||||||||
Impairment of long-lived assets
|
29,050
|
-
|
82,700
|
3,800
|
||||||||||||
Total operating expenses
|
87,944
|
79,938
|
265,732
|
256,041
|
||||||||||||
Operating income (loss)
|
3,968
|
31,117
|
(2,937
|
)
|
75,034
|
|||||||||||
INTEREST INCOME
|
178
|
45
|
212
|
131
|
||||||||||||
INTEREST EXPENSE
|
18,243
|
20,239
|
55,776
|
61,647
|
||||||||||||
OTHER INCOME, net
|
(1,684
|
)
|
(1,299
|
)
|
(3,282
|
)
|
(4,669
|
)
|
||||||||
(Loss) income before (benefit from) provision for income taxes and noncontrolling interest in income of subsidiaries
|
(12,413
|
)
|
12,222
|
(55,219
|
)
|
18,187
|
||||||||||
(BENEFIT FROM) PROVISION FOR INCOME TAXES
|
(136
|
)
|
6,535
|
(21,526
|
)
|
8,342
|
||||||||||
CONSOLIDATED NET (LOSS) INCOME
|
(12,277
|
)
|
5,687
|
(33,693
|
)
|
9,845
|
||||||||||
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
495
|
328
|
846
|
999
|
||||||||||||
CONSOLIDATED NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(12,772
|
)
|
$
|
5,359
|
$
|
(34,539
|
)
|
$
|
8,846
|
||||||
AMOUNTS ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
||||||||||||||||
CONSOLIDATED NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(12,772
|
)
|
$
|
5,359
|
$
|
(34,539
|
)
|
$
|
8,846
|
||||||
Weighted average shares outstanding - basic3
|
44,175,385
|
44,315,077
|
44,738,635
|
44,912,673
|
||||||||||||
Weighted average shares outstanding - diluted4
|
44,175,385
|
46,118,702
|
44,738,635
|
46,965,245
|
Three Months Ended September 30,
|
Nine Months Ended September 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
PER SHARE DATA - basic and diluted:
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
||||||||||||
(in thousands, except per share data)
|
(in thousands, except per share data)
|
|||||||||||||||
Consolidated net (loss) income attributable to common stockholders (basic)
|
$
|
(0.29
|
)
|
$
|
0.12
|
$
|
(0.77
|
)
|
$
|
0.20
|
||||||
Consolidated net (loss) income attributable to common stockholders (diluted)
|
$
|
(0.29
|
)
|
$
|
0.12
|
$
|
(0.77
|
)
|
$
|
0.19
|
||||||
SELECTED OTHER DATA
|
||||||||||||||||
Broadcast and digital operating income 1
|
$
|
44,194
|
$
|
43,644
|
$
|
112,002
|
$
|
122,122
|
||||||||
Broadcast and digital operating income margin (% of net revenue)
|
48.1
|
%
|
39.3
|
%
|
42.6
|
%
|
36.9
|
%
|
||||||||
Broadcast and digital operating income reconciliation:
|
||||||||||||||||
Consolidated net (loss) income attributable to common stockholders
|
$
|
(12,772
|
)
|
$
|
5,359
|
$
|
(34,539
|
)
|
$
|
8,846
|
||||||
Add back non-broadcast and digital operating income items included in consolidated net (loss) income:
|
||||||||||||||||
Interest income
|
(178
|
)
|
(45
|
)
|
(212
|
)
|
(131
|
)
|
||||||||
Interest expense
|
18,243
|
20,239
|
55,776
|
61,647
|
||||||||||||
(Benefit from) provision for income taxes
|
(136
|
)
|
6,535
|
(21,526
|
)
|
8,342
|
||||||||||
Corporate selling, general and administrative expenses
|
7,893
|
8,053
|
23,365
|
26,245
|
||||||||||||
Stock-based compensation
|
794
|
1,881
|
1,455
|
2,592
|
||||||||||||
Other income, net
|
(1,684
|
)
|
(1,299
|
)
|
(3,282
|
)
|
(4,669
|
)
|
||||||||
Depreciation and amortization
|
2,489
|
2,593
|
7,419
|
14,451
|
||||||||||||
Noncontrolling interest in income of subsidiaries
|
495
|
328
|
846
|
999
|
||||||||||||
Impairment of long-lived assets
|
29,050
|
-
|
82,700
|
3,800
|
||||||||||||
Broadcast and digital operating income
|
$
|
44,194
|
$
|
43,644
|
$
|
112,002
|
$
|
122,122
|
||||||||
Adjusted EBITDA2
|
$
|
39,568
|
$
|
38,671
|
$
|
96,365
|
$
|
106,017
|
||||||||
Adjusted EBITDA reconciliation:
|
||||||||||||||||
Consolidated net (loss) income attributable to common stockholders
|
$
|
(12,772
|
)
|
$
|
5,359
|
$
|
(34,539
|
)
|
$
|
8,846
|
||||||
Interest income
|
(178
|
)
|
(45
|
)
|
(212
|
)
|
(131
|
)
|
||||||||
Interest expense
|
18,243
|
20,239
|
55,776
|
61,647
|
||||||||||||
(Benefit from) provision for income taxes
|
(136
|
)
|
6,535
|
(21,526
|
)
|
8,342
|
||||||||||
Depreciation and amortization
|
2,489
|
2,593
|
7,419
|
14,451
|
||||||||||||
EBITDA
|
$
|
7,646
|
$
|
34,681
|
$
|
6,918
|
$
|
93,155
|
||||||||
Stock-based compensation
|
794
|
1,881
|
1,455
|
2,592
|
||||||||||||
Other income, net
|
(1,684
|
)
|
(1,299
|
)
|
(3,282
|
)
|
(4,669
|
)
|
||||||||
Noncontrolling interest in income of subsidiaries
|
495
|
328
|
846
|
999
|
||||||||||||
Employment Agreement Award, incentive plan award expenses and other compensation
|
1,008
|
860
|
2,318
|
3,576
|
||||||||||||
Contingent consideration from acquisition
|
5
|
53
|
(1
|
)
|
219
|
|||||||||||
Severance-related costs
|
559
|
358
|
2,145
|
1,178
|
||||||||||||
Cost method investment income from MGM National Harbor
|
1,695
|
1,809
|
3,266
|
5,167
|
||||||||||||
Impairment of long-lived assets
|
29,050
|
-
|
82,700
|
3,800
|
||||||||||||
Adjusted EBITDA
|
$
|
39,568
|
$
|
38,671
|
$
|
96,365
|
$
|
106,017
|
September 30, 2020
|
December 31, 2019
|
|||||||
(unaudited)
|
||||||||
(in thousands)
|
||||||||
SELECTED BALANCE SHEET DATA:
|
||||||||
Cash and cash equivalents and restricted cash
|
$
|
102,696
|
$
|
33,546
|
||||
Intangible assets, net
|
795,856
|
881,708
|
||||||
Total assets
|
1,210,537
|
1,249,919
|
||||||
Total debt (including current portion, net of original issue discount and issuance costs)
|
877,125
|
876,253
|
||||||
Total liabilities
|
1,036,995
|
1,056,280
|
||||||
Total stockholders' equity
|
162,425
|
183,075
|
||||||
Redeemable noncontrolling interest
|
11,117
|
10,564
|
||||||
September 30, 2020
|
Applicable Interest Rate
|
|||||||
(in thousands)
|
||||||||
SELECTED LEVERAGE DATA:
|
||||||||
2017 Credit Facility, net of original issue discount and issuance costs of approximately $4.2 million (subject to variable rates) (a)
|
$
|
313,923
|
5.00
|
%
|
||||
7.375% senior secured notes due April 2022, net of original issue discount and issuance costs of approximately $1.7 million (fixed rate)
|
348,315
|
7.375
|
%
|
|||||
2018 Credit Facility, net of original issue discount and issuance costs of approximately $2.9 million (fixed rate)
|
131,789
|
12.875
|
%
|
|||||
MGM National Harbor Loan, net of original issue discount and issuance costs of approximately $1.7 million (fixed rate)
|
55,598
|
11.00
|
%
|
|||||
Asset-backed credit facility (subject to variable rates) (a)
|
27,500
|
2.40
|
%
|
(a)
|
Subject to variable Libor or Prime plus a spread that is incorporated into the applicable interest rate set forth above.
|
|
Three Months Ended September 30,
|
||||||||||||||||
2020 |
2019 |
$ Change |
% Change |
||||||||||||||
(Unaudited) |
|||||||||||||||||
(in thousands) |
|||||||||||||||||
Net Revenue:
|
|||||||||||||||||
Radio Advertising
|
$
|
34,919
|
$
|
50,813
|
$
|
(15,894
|
)
|
-31.3
|
%
|
||||||||
Political Advertising
|
4,324
|
300
|
4,024
|
1341.3
|
%
|
||||||||||||
Digital Advertising
|
8,121
|
8,171
|
(50
|
)
|
-0.6
|
%
|
|||||||||||
Cable Television Advertising
|
19,603
|
20,649
|
(1,046
|
)
|
-5.1
|
%
|
|||||||||||
Cable Television Affiliate Fees
|
24,421
|
25,330
|
(909
|
)
|
-3.6
|
%
|
|||||||||||
Event Revenues & Other
|
524
|
5,792
|
(5,268
|
)
|
-91.0
|
%
|
|||||||||||
Net Revenue (as reported)
|
$
|
91,912
|
$
|
111,055
|
$
|
(19,143
|
)
|
-17.2
|
%
|
Three Months Ended September 30, 2020 |
||||||||||||||||||||||||
(in thousands) |
||||||||||||||||||||||||
Radio
|
Reach
|
Cable
|
Corporate/
|
|||||||||||||||||||||
Consolidated
|
Broadcasting
|
Media
|
Digital
|
Television
|
Eliminations
|
|||||||||||||||||||
STATEMENT OF OPERATIONS:
|
||||||||||||||||||||||||
NET REVENUE
|
$
|
91,912
|
$
|
31,645
|
$
|
7,751
|
$
|
8,451
|
$
|
44,746
|
$
|
(681
|
)
|
|||||||||||
OPERATING EXPENSES:
|
||||||||||||||||||||||||
Programming and technical
|
24,202
|
8,128
|
2,758
|
2,340
|
11,343
|
(367
|
)
|
|||||||||||||||||
Selling, general and administrative
|
23,516
|
12,137
|
1,271
|
4,514
|
5,870
|
(276
|
)
|
|||||||||||||||||
Corporate selling, general and administrative
|
7,893
|
-
|
603
|
6
|
1,207
|
6,077
|
||||||||||||||||||
Stock-based compensation
|
794
|
103
|
-
|
-
|
-
|
691
|
||||||||||||||||||
Depreciation and amortization
|
2,489
|
759
|
59
|
483
|
934
|
254
|
||||||||||||||||||
Impairment of long-lived assets
|
29,050
|
29,050
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total operating expenses
|
87,944
|
50,177
|
4,691
|
7,343
|
19,354
|
6,379
|
||||||||||||||||||
Operating income (loss)
|
3,968
|
(18,532
|
)
|
3,060
|
1,108
|
25,392
|
(7,060
|
)
|
||||||||||||||||
INTEREST INCOME
|
178
|
-
|
-
|
-
|
178
|
-
|
||||||||||||||||||
INTEREST EXPENSE
|
18,243
|
-
|
-
|
79
|
1,919
|
16,245
|
||||||||||||||||||
OTHER INCOME, net
|
(1,684
|
)
|
-
|
-
|
-
|
-
|
(1,684
|
)
|
||||||||||||||||
(Loss) income before (benefit from) provision for income taxes and noncontrolling interest in income of subsidiaries
|
(12,413
|
)
|
(18,532
|
)
|
3,060
|
1,029
|
23,651
|
(21,621
|
)
|
|||||||||||||||
(BENEFIT FROM) PROVISION FOR INCOME TAXES
|
(136
|
)
|
(1,820
|
)
|
746
|
-
|
5,931
|
(4,993
|
)
|
|||||||||||||||
CONSOLIDATED NET (LOSS) INCOME
|
(12,277
|
)
|
(16,712
|
)
|
2,314
|
1,029
|
17,720
|
(16,628
|
)
|
|||||||||||||||
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
495
|
-
|
-
|
-
|
-
|
495
|
||||||||||||||||||
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(12,772
|
)
|
$
|
(16,712
|
)
|
$
|
2,314
|
$
|
1,029
|
$
|
17,720
|
$
|
(17,123
|
)
|
|||||||||
Adjusted EBITDA2
|
$
|
39,568
|
$
|
11,743
|
$
|
3,221
|
$
|
1,574
|
$
|
26,360
|
$
|
(3,330
|
)
|
Three Months Ended September 30, 2019 | ||||||||||||||||||||||||||||
(in thousands, unaudited) | ||||||||||||||||||||||||||||
Radio
|
Reach
|
Cable
|
Corporate/
|
|||||||||||||||||||||||||
Consolidated
|
Broadcasting
|
Media
|
Digital
|
Television
|
Eliminations
|
|||||||||||||||||||||||
STATEMENT OF OPERATIONS:
|
||||||||||||||||||||||||||||
NET REVENUE
|
$
|
111,055
|
$
|
46,467
|
$
|
10,917
|
$
|
8,170
|
$
|
45,981
|
$
|
(480
|
)
|
|||||||||||||||
OPERATING EXPENSES:
|
||||||||||||||||||||||||||||
Programming and technical
|
31,037
|
10,240
|
4,070
|
2,899
|
14,268
|
(440
|
)
|
|||||||||||||||||||||
Selling, general and administrative
|
36,374
|
19,274
|
4,411
|
4,619
|
8,177
|
(107
|
)
|
|||||||||||||||||||||
Corporate selling, general and administrative
|
8,053
|
-
|
518
|
1
|
1,476
|
6,058
|
||||||||||||||||||||||
Stock-based compensation
|
1,881
|
262
|
12
|
11
|
-
|
1,596
|
||||||||||||||||||||||
Depreciation and amortization
|
2,593
|
791
|
60
|
474
|
953
|
315
|
||||||||||||||||||||||
Total operating expenses
|
79,938
|
30,567
|
9,071
|
8,004
|
24,874
|
7,422
|
||||||||||||||||||||||
Operating income (loss)
|
31,117
|
15,900
|
1,846
|
166
|
21,107
|
(7,902
|
)
|
|||||||||||||||||||||
INTEREST INCOME
|
45
|
-
|
-
|
-
|
-
|
45
|
||||||||||||||||||||||
INTEREST EXPENSE
|
20,239
|
337
|
-
|
-
|
1,919
|
17,983
|
||||||||||||||||||||||
OTHER (INCOME) EXPENSE, net
|
(1,299
|
)
|
515
|
-
|
-
|
-
|
(1,814
|
)
|
||||||||||||||||||||
Income (loss) before provision for (benefit from) income taxes and noncontrolling interest in income of subsidiaries
|
12,222
|
15,048
|
1,846
|
166
|
19,188
|
(24,026
|
)
|
|||||||||||||||||||||
PROVISION FOR (BENEFIT FROM) INCOME TAXES
|
6,535
|
3,869
|
485
|
(13
|
)
|
4,892
|
(2,698
|
)
|
||||||||||||||||||||
CONSOLIDATED NET INCOME (LOSS)
|
5,687
|
11,179
|
1,361
|
179
|
14,296
|
(21,328
|
)
|
|||||||||||||||||||||
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
328
|
-
|
-
|
-
|
-
|
328
|
||||||||||||||||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
5,359
|
$
|
11,179
|
$
|
1,361
|
$
|
179
|
$
|
14,296
|
$
|
(21,656
|
)
|
|||||||||||||||
Adjusted EBITDA2
|
$
|
38,671
|
$
|
17,116
|
$
|
1,918
|
$
|
710
|
$
|
22,101
|
$
|
(3,174
|
)
|
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||
(in thousands, unaudited) | ||||||||||||||||||||||||
Radio
|
Reach
|
Cable
|
Corporate/
|
|||||||||||||||||||||
Consolidated
|
Broadcasting
|
Media
|
Digital
|
Television
|
Eliminations
|
|||||||||||||||||||
STATEMENT OF OPERATIONS:
|
||||||||||||||||||||||||
NET REVENUE
|
$
|
262,795
|
$
|
87,066
|
$
|
20,709
|
$
|
20,844
|
$
|
136,003
|
$
|
(1,827
|
)
|
|||||||||||
OPERATING EXPENSES:
|
||||||||||||||||||||||||
Programming and technical
|
75,684
|
25,604
|
9,144
|
7,902
|
34,163
|
(1,129
|
)
|
|||||||||||||||||
Selling, general and administrative
|
75,109
|
41,555
|
4,324
|
11,845
|
18,022
|
(637
|
)
|
|||||||||||||||||
Corporate selling, general and administrative
|
23,365
|
-
|
1,941
|
25
|
3,587
|
17,812
|
||||||||||||||||||
Stock-based compensation
|
1,455
|
214
|
59
|
6
|
-
|
1,176
|
||||||||||||||||||
Depreciation and amortization
|
7,419
|
2,266
|
178
|
1,248
|
2,817
|
910
|
||||||||||||||||||
Impairment of long-lived assets
|
82,700
|
82,700
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total operating expenses
|
265,732
|
152,339
|
15,646
|
21,026
|
58,589
|
18,132
|
||||||||||||||||||
Operating (loss) income
|
(2,937
|
)
|
(65,273
|
)
|
5,063
|
(182
|
)
|
77,414
|
(19,959
|
)
|
||||||||||||||
INTEREST INCOME
|
212
|
-
|
-
|
-
|
178
|
34
|
||||||||||||||||||
INTEREST EXPENSE
|
55,776
|
3
|
-
|
238
|
5,756
|
49,779
|
||||||||||||||||||
OTHER INCOME, net
|
(3,282
|
)
|
(1
|
)
|
-
|
-
|
-
|
(3,281
|
)
|
|||||||||||||||
(Loss) income before (benefit from) provision for income taxes and noncontrolling interest in income of subsidiaries
|
(55,219
|
)
|
(65,275
|
)
|
5,063
|
(420
|
)
|
71,836
|
(66,423
|
)
|
||||||||||||||
(BENEFIT FROM) PROVISION FOR INCOME TAXES
|
(21,526
|
)
|
(11,693
|
)
|
1,320
|
-
|
17,972
|
(29,125
|
)
|
|||||||||||||||
CONSOLIDATED NET (LOSS) INCOME
|
(33,693
|
)
|
(53,582
|
)
|
3,743
|
(420
|
)
|
53,864
|
(37,298
|
)
|
||||||||||||||
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
846
|
-
|
-
|
-
|
-
|
846
|
||||||||||||||||||
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(34,539
|
)
|
$
|
(53,582
|
)
|
$
|
3,743
|
$
|
(420
|
)
|
$
|
53,864
|
$
|
(38,144
|
)
|
||||||||
Adjusted EBITDA2
|
$
|
96,365
|
$
|
21,307
|
$
|
5,601
|
$
|
1,283
|
$
|
80,335
|
$
|
(12,161
|
)
|
Nine Months Ended September 30, 2019 |
||||||||||||||||||||||||
(in thousands, unaudited) |
||||||||||||||||||||||||
Radio
|
Reach
|
Cable
|
Corporate/
|
|||||||||||||||||||||
Consolidated
|
Broadcasting
|
Media
|
Digital
|
Television
|
Eliminations
|
|||||||||||||||||||
STATEMENT OF OPERATIONS:
|
||||||||||||||||||||||||
NET REVENUE
|
$
|
331,075
|
$
|
132,528
|
$
|
36,660
|
$
|
23,280
|
$
|
140,234
|
$
|
(1,627
|
)
|
|||||||||||
OPERATING EXPENSES:
|
||||||||||||||||||||||||
Programming and technical
|
93,779
|
31,131
|
12,150
|
8,438
|
43,417
|
(1,357
|
)
|
|||||||||||||||||
Selling, general and administrative
|
115,174
|
57,561
|
16,712
|
13,831
|
27,241
|
(171
|
)
|
|||||||||||||||||
Corporate selling, general and administrative
|
26,245
|
-
|
2,062
|
2
|
4,617
|
19,564
|
||||||||||||||||||
Stock-based compensation
|
2,592
|
450
|
31
|
39
|
9
|
2,063
|
||||||||||||||||||
Depreciation and amortization
|
14,451
|
2,510
|
178
|
1,395
|
9,430
|
938
|
||||||||||||||||||
Impairment of long-lived assets
|
3,800
|
3,800
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total operating expenses
|
256,041
|
95,452
|
31,133
|
23,705
|
84,714
|
21,037
|
||||||||||||||||||
Operating income (loss)
|
75,034
|
37,076
|
5,527
|
(425
|
)
|
55,520
|
(22,664
|
)
|
||||||||||||||||
INTEREST INCOME
|
131
|
-
|
-
|
-
|
-
|
131
|
||||||||||||||||||
INTEREST EXPENSE
|
61,647
|
1,012
|
-
|
-
|
5,757
|
54,878
|
||||||||||||||||||
OTHER (INCOME) EXPENSE, net
|
(4,669
|
)
|
517
|
-
|
-
|
-
|
(5,186
|
)
|
||||||||||||||||
Income (loss) before provision for (benefit from) income taxes and noncontrolling interest in income of subsidiaries
|
18,187
|
35,547
|
5,527
|
(425
|
)
|
49,763
|
(72,225
|
)
|
||||||||||||||||
PROVISION FOR (BENEFIT FROM) INCOME TAXES
|
8,342
|
9,121
|
1,343
|
(10
|
)
|
12,559
|
(14,671
|
)
|
||||||||||||||||
CONSOLIDATED NET INCOME (LOSS)
|
9,845
|
26,426
|
4,184
|
(415
|
)
|
37,204
|
(57,554
|
)
|
||||||||||||||||
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
999
|
-
|
-
|
-
|
-
|
999
|
||||||||||||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
8,846
|
$
|
26,426
|
$
|
4,184
|
$
|
(415
|
)
|
$
|
37,204
|
$
|
(58,553
|
)
|
||||||||||
Adjusted EBITDA2
|
$
|
106,017
|
$
|
44,301
|
$
|
5,754
|
$
|
1,459
|
$
|
65,125
|
$
|
(10,622
|
)
|