Saga Q4 Operating Revs Down 8.9%, Loss Narrows

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Saga Communications reported net operating revenue for the fourth quarter fell 8.9% to $31.8 million from $26.5 million in 2008. Free cash flow increased 11.8% to $6.6 million, while station operating expense fell 10.2% to $23.9 million. The company posted a net loss of $7.4 million ($1.74 per share) as compared to a net loss of $74 million ($14.71) in the year-ago period.

For the full year 2009 net opearting revenues decreased 13.7% over 2008 to $120.8 million. Station operating expense was down 10.6% to $94.7 million The company's net loss was $2.6 million (61 cents per share) compared to a net loss of $66.5 million ($14.05).