Emmis profit dips in third quarter

Emmis Communications Inc. reported $900,000 in profit in the third quarter ended Nov. 30. That was down from $198.8 million in the same period a year earlier, which included $198 million from discontinued operations. Operating income dropped 28.4 percent, to $17.5 million.

The Indianapolis-based broadcasting company blamed the results on weakness in its New York and Los Angeles radio properties, but said the worst might now be in the past.