INTEREP REPORTS PROFIT, BUT FIRST-QUARTER OUTLOOK DOWN

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Leading radio and Internet rep firm Interep National Radio Sales reported revenue of $107.7 million for 2000, an increase of 4% over the previous year's $103.4 million. Commissions from radio, the company's core business, were also up almost 4% to $99.8 million for 2000, compared with $96.3 in the year earlier period.

Fourth-quarter radio revenues were down 6% to $26.2 million, from $27.9 million in 1999, but up 2% on a pro forma basis, excluding revenue generated from radio stations belonging to media company Clear Channel Communications, which moved all its station representation in-house at the end of 1999.

Although first-quarter outlook is down 20% and second-quarter is down 10% to 15%, Interep projects flat growth for 2001.

"While the first quarter is pretty sad, first-quarter revenue is generally 18% of the whole year, and luckily, that will be behind us," said Bill McEntee, Interep's chief financial officer.

Copyright March 2001, Crain Communications Inc.

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