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Saga Communications Q4 Net Revenues Up 2.3%
RADIO ONLINE | Tuesday, March 6, 2018 |
Saga Communications reported net revenue increased 2.3% to $31.5 million from $30.7 million in 2016. Operating income (OI) declined $433,000 to $5.3 million, while station operating expenses increased 5.4% to $23.2 million. Free cash flow grew to $6.3 million compared to $7.6 million. Same station net revenue fell 4.2% to $29.5 million primarily due to a decrease in gross political revenue. the company posted a Q4 net income of $14.8 million ($2.51 per fully diluted share) as compared $4.9 million (84 cents) in the year-ago period.
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