Salem Q3 Total Revenues Fall 10.2% to $48.9 Million

RADIO ONLINE | , , | :am CT

Christian radio broadcaster Salem Communications reported a total revenue decline for the third quarter of 10.2% to $48.9 million from $54.4 million. Operating expenses decreased 20.8% to $54.4 million from $68.7 million, while operating loss from continued operations was $5.5 million. The company posted a net loss of $4.6 million (19 per share), as compared to $11 million (47 cents)

Net broadcast revenue fell 11.4% to $42 million from $47.4 million and station operating income (SOI) decreased 8.2% to $15.1 million from $16.4 million. Same station revenue declined 12.2% to $40.9 million from $46.6 million. Same station SOI decreased 9.9% to $15 million from $16.7 million.

For the fourth quarter, Salem is projecting total revenue to decrease 8% to 10% over Q4 2008 totals of $54.8 million.