Emmis Communications Corporation reported unaudited consolidated earnings results for the first quarter ended May 31, 2018. For the quarter, the company reported total net revenues of $28.006 million against $40.164 million a year ago. Operating income was $35.235 million against $5.213 million a year ago. Income before income taxes was $31.839 million against $0.550 million a year ago. Net income attributable to the company was $23.485 million or $1.75 per diluted share against net loss attributable to the company of $0.267 million or $0.02 per basic and diluted share a year ago. Capital expenditures were $0.020 million against $0.397 million a year ago.

The company expects capital expenditures in fiscal 2019 to be less than $1 million.