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Salem Media Group Q3 Total Revenue Down 8.2%
RADIO ONLINE | Tuesday, November 7, 2017 |
Salem Media Group reported third quarter total revenue fell 8.2% to $65.4 million from $71.3 million. Operating income dipped 43.4% to $5 million from $8.8 million. Net broadcast revenue decreased 5.1% to $48.4 million from $51.1 million, while station operating income (SOI) declined 16.4% to $11.4 million from $13.6 million. Digital media revenue was down 12.9% to $10.4 million from $12 million. The company reported a net loss of $46,000 ($0.00 per diluted share), as compared to net income of $2.2 million ($0.08) in the year-ago period.
For the fourth quarter of 2017, the company is projecting total revenue to decline between 4% to 6% from fourth quarter 2016 total revenue of $70.7 million. Excluding the impact of political revenue and the revenue of the eliminated loss-making magazines, the company would be projecting revenue decline between 1% and 3%.
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