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Salem Media Group Q1 Total Revs Down 1.8%, Broadcast Up
RADIO ONLINE | Tuesday, May 8, 2018 |
Salem Media Group reported first quarter total revenues fell 1.8% to $63.8 million from $65 million, while broadcast revenue grew 0.5% to $48.1 million from $47.8 million. Operating income increased 17.7% to $5.7 million from $4.8 million. Station Operating Income (SOI) climbed 2.8% to $12.3 million from $12 million. Total operating expenses declined 3.4% to $58.1 million from $60.2 million. The company posted a net income of $0.8 million (3 cents per diluted share), down 21.9% from $1.1 million (4 cents) in the year-ago period.
Looking ahead to the second quarter of 2018, the company is projecting total revenue to be between a decrease of 1% and an increase of 1% from Q2 2017 total revenue of $66.1 million.
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