Clear Channel Communications Inc. of Texas Reports Record Quarter.(Originated from San Antonio Express-News)

Knight Ridder/Tribune Business News, April, 1997 by Sheron, Don

Apr. 30--Clear Channel Communications Inc., one of the largest radio broadcasters in the country, just completed a record first quarter in after-tax cash flow, said Lowry Mays, chairman and chief executive officer, during the annual shareholders' meeting Tuesday.

The company earned $7.6 million, or 10 cents per share, compared to $6.24 million, or 9 cents per share, for the first quarter last year.

However, earnings per share on an after-tax cash flow increased 65 percent to 38 cents, compared to 23 cents for the same quarter in 1996.

After-tax cash flow, which the company said is the most important measure of its success, increased 83 percent to $29.4 million from $16 million for the same quarter last year.

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