Salem Media Group Q2 Broadcast Revenues Up 2.7%

Salem Media Group
Salem Media Group

Salem Media Group reported second quarter consolidated revenue increased 0.2% to $66.3 million from $66.1 million in 2017. Broadcast revenue grew 2.7% to $50.6 million from $49.3 million, while station operating income (SOI) remained flat at $13.3 million.

Same station broadcast revenue was climbed 3% to $49.8 million from $48.4 million and same station SOI gained 1.3% to $13.7 million from $13.5 million. Total operating income declined 84.4% to $1.3 million from $8.6 million. The company posted a net loss of $2.2 million (5 cents per diluted share) as compared to earns of $1.27 million (5 cents) in the year-ago period.

For the third quarter of 2018, Salem is projecting total revenue to be between flat and an increase of 2% from third quarter 2017 total revenue of $65.4 million.

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