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Salem Media Group Q4 Revenue Down 4.9%, Earnings Up
RADIO ONLINE | Thursday, March 15, 2018 |
Salem Media Group reported fourth quarter total revenue decreased 4.9% to $67.2 million from $70.7 million in 2016. Operating income grew 31% to $4.5 million from $3.5 million. Net broadcast revenue declined 2.9% to $50.7 million from $52.2 million, while station operating income (SOI) fell 9% to $14 million from $15.4 million. Digital media revenue fell 12.8% to $11.1 million from $12.7 million. The company posted a net income of $22.4 million (85 cents per diluted share) as compared to $3 million (11 cents) in the year-ago period.
For the first quarter of 2018, the Christian radio broadcaster is projecting total revenue to decline between 1% and 3% over first quarter 2017 total revenue of $65 million.
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