Cox Radio Narrows 4Q Loss

The Atlanta company posted a loss of $52.1 million, or 57 cents per share, compared with a loss of $88 million, or 93 cents per share, in the year-ago period. The losses in each period were caused by impairment charges, which shrank to $117.1 million in the latest period from $176.3 million a year ago.

Station operating income fell 2.4 percent to $46.4 million from $47.6 million.

Analysts, whose estimates are based on that operating result, expected profit of 19 cents per share. The company did not provide a corresponding per-share figure.

Revenue rose 1 percent to $114.3 million from $113 million last year, boosted by the company's stations in Atlanta, Houston, Birmingham, Ala., and Greenville, N.C.

For the year, the company swung to a profit of $1.9 million, or 2 cents per share, from a loss of $24.4 million or 25 cents per share in 2006. Sales edged up 1 percent to $444.9 million.

Cox Radio shares rose 41 cents, or 3.7 percent, to $11.58 in morning trading.