Saga Communications Q3 Net Revenues Flat Over 2018 Totals
|RADIO ONLINE | Thursday, November 7, 2019|
Saga Communications reported net revenue of $31.3 million for the third quarter compared to $31.7 million in 2018. Gross revenue was flat with last year for the quarter net of $96,000 of political revenue this quarter and $486,000 of political revenue for the same period last year. Station operating expense increased to $23.6 million and operating income fell to $4.8 million from $5.3 million. The company posted a net income decline of $361,000 to $3.3 million (56 cents per diluted share) compared to $3.6 million (62 cents) in the year-ago period.
On a same station basis for the quarter, net revenue decreased $1.4 million to $30.3 million. Operating expense fell $779,000 to $22.7 million while operating income declined $593,000 to $4.7 million.