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Saga Communications Q2 Net Revs Up 6.3% to $29.8 Million


Saga Communications
Saga Communications

Saga Communications reported second quarter net revenue increased 6.3% to $29.8 million from $28 million in 2021. Station operating expense grew 3.7% to $21.8 million from $21 million. Station operating income (SOI) climbed 10.6% to $9.3 million and operating income was $5.4 million compared to $4.6 million. Free cash flow fell to $3.2 million from $4.2 million. The company posted a net income of $3.8 million (63 cents per diluted share) as compared to $3.3 million (54 cents) in the year-ago period.

The company paid a quarterly dividend of 20 cents per share on July 1. The aggregate amount of the quarterly dividend was $1.2 million. To date Saga has paid over $79 million in dividends to shareholders since the first special dividend was paid in 2012.

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Radio Advertising Bureau: The Radio Advertising Bureau (RAB), in conjunction with BMI and Mentoring and Inspiring Women in Radio (MIW) have completed the 14th annual Rising Through the Ranks program, which began with a virtual session on August 2, and continued with in-person meetings on August 9-11. Pictured: 2022 Graduates and Speakers with BMI songwriter and Recording Artist Lauren Alaina.

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