Record quarter for Clear Channel. (Clear Channel Communications Inc. reports quarterly earnings)(Brief Article)

Broadcasting & Cable, July, 1995 by Rathbun, Elizabeth

Clear Channel Communications Inc.'s recent purchase of WHP-TV Harrisburg, Pa., gave the 21 -year-old company its most successful quarter ever.

The San Antonio-based company's total assets rose 102% by June 30, to $524.4 million, compared with $259.6 million as of June 30, 1994. For the three months that ended on June 30, Clear Channel reports its after-tax cash flow rose 49.5%, from $11.9 million in 1994 to $17.8 million. That translates into a record after-tax cash flow per-share price of $1.01, compared with 69 cents per share during the same period in 1994.

"We are optimistic about the remainder of 1995 and are hopeful that the company's strong performance...will continue," president/CEO L. Lowry Mays said in a company statement released last...

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