Saga Q1 Net Operating Revenue Gains 7%, Radio Up

RADIO ONLINE | , , | :am CT

Saga Communications posted net operating revenue for the first quarter grew 7.1% to to $27.9 million from $26.1 million in 2009. Free cash flow increased 140% to $2.3 million compared to $939,000. Station operating expense declined 5.8% to $22.6 million. The company reported net earnings of $3.3 million (78 cents per diluted share) versus a net loss of $362,000 (9 cents) in the year-ago period.

The company's radio unit saw net operating revenue grow to $24.1 million from $22.6 million, while operating income (OI) was $4.9 million versus $2.3 million.