Emmis Communications Corporation announced unaudited consolidated earnings results for the second quarter and six months ended August 31, 2018. For the quarter, the company reported total net revenues were $32,056,000 against $42,848,000 for the same period a year ago. Operating income was $2,457,000 against $82,219,000 for the same period a year ago. Income before income taxes was $778,000 against $75,159,000 for the same period a year ago. Consolidated net income was $432,000 against $70,765,000 for the same period a year ago. Net loss attributable to the company was $373,000 against net income attributable to the company of $69,957,000 for the same period a year ago. Basic and diluted loss per share was $0.03 against diluted earnings per share of $5.59 for the same period a year ago. Capital expenditures were $84,000 against $441,000 for the same period a year ago.

For six months, the company reported total net revenues were $60,062,000 against $83,012,000 for the same period a year ago. Operating income was $37,692,000 against $87,432,000 for the same period a year ago. Income before income taxes was $32,617,000 against $75,709,000 for the same period a year ago. Consolidated net income was $24,671,000 against $71,337,000 for the same period a year ago. Net income attributable to the company was $23,112,000 against $69,690,000 for the same period a year ago. Diluted earnings per share were $1.71 against $5.59 for the same period a year ago. Capital expenditures were $104,000 against $838,000 for the same period a year ago.

For the fiscal year 2018, The company expects capital expenditures to be less than $1 million.