2009 FINANCIAL REVIEW: Not surprisingly, revenues at Regent Communications were down for the fourth quarter and the year, but overall losses were reduced
Regent Communications , which is currently operating under bankruptcy protection as it reorganizes, released its fourth quarter and full-year 2009 financial results earlier today. As one might reasonably expect from a company that's going through Chapter 11, revenues were down both for the quarter and all of 2009, although in the "good news" column, the company was able to reverse its overall losses when compared to the previous year. Compared to the fourth quarter of 2008, revenues were off 10%, down to $21.3 million (vs. $23.7 million the year before). Operating expenses were down 5.5% to $14.0 million, but the company reported a net loss of $14.2 million. That loss is far less than 4Q2008's negative $75.4 million performance. For the full year, the numbers were, again, off from 2008, although the net losses were not nearly as large as the previous year. The company lost $44.6 million for all of 2009, versus a loss of $119.0 million in 2008. With the company