Premiere Radio Rebounds With Solid Profit Boost

Premiere Radio Networks Inc., a Sherman Oaks company that produces and distributes syndicated radio programming, reported profit turnarounds in the second quarter and first half compared to year-earlier losses.

In the three months that ended June 30, Premiere earned $383,236, in contrast with a loss of $43,185 in the second quarter of 1993. Its quarterly revenue jumped 66%, to $4.27 million from $2.58 million a year ago.

For the six months, the company had net income of $1.37 million, while its revenue soared 71%, to $7.79 million. In the first half of 1993, Premiere had a loss of $325,843 on $4.55 million in revenue.

Premiere attributed the financial rebound to its acquisition strategy, which depressed 1993 results but contributed to earnings this year. Among those acquisitions were nine radio programs purchased last year from Olympia Networks of Missouri Inc. and an investment in Mediabase Research Corp., which Premiere now owns.