The leading radio sales rep firm reported a net loss of $3.8 million for the first quarter, or 41 cents per share, an improvement over the loss of $6.3 million, or 74 cents per share, in the same period last year.
The company's total revenue increased 19% to $19.9 million from $16.7 million in last year's first quarter, which is historically the company's weakest period due to seasonality.
Revenue from radio
"We are seeing a steady increase in activity for the first half of the year. We now expect revenue to continue to improve due to our focus on new-business development and the rebound in national advertising," Interep Chairman-CEO Ralph Guild said in a statement.
Interep, an independent national spot radio rep firm, is the exclusive sales arm for more than 2,000 radio stations nationwide, including radio stations owned by seven of the 10 largest radio groups by revenue.
Last year, the company spent $1.5 million to launch a sales and marketing effort to bring more advertisers to the medium.