Saga Communications Q4 Net Revs Fall Slightly, Earnings Down

RADIO ONLINE | Thursday, March 12, 2020 | 5:23pm CT

Saga Communications

Saga Communications reported fourth quarter net revenue of $31.8 million as compared with $32.9 million in 2108. Gross revenue was flat at $33.7 million. Station operating expense decreased $711,000 to $23.1 million and operating income declined $575,000 to $5.4 million. The company posted a net income of $3.8 million (64 cents per diluted share) as compared with $4.2 million ( 72 cents) in the year-ago period.

The company had $44 million in cash on hand as of December 31, 2019 and $47 million as of March 9. Total bank debt was $10 million as of the end of the year. Including the recently announced $0.32 per share dividend which will be paid on April 10, 2020, the company will have paid over $71 million in dividends since December 3, 2012.

Saga's 2019 4th Quarter conference call will be on Thursday, March 12, 2020 at 11am EDT.