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Salem Media Group Q3 Total Revenue Flat at $65.5 Million


Salem Media Group
Salem Media Group

Salem Media Group reported third quarter total revenue increased 0.1% to $65.5 million from $65.4 million in 2017. Total operating expenses declined 1.9% to $59.3 million from $60.4 million. Operating income grew 25.4% to $6.3 million from $5.0 million. EBITDA rose 19.4% to $10.9 million from $9.1 million, while station operating income (SOI) increased 2.4% to $11.7 million from $11.4 million. The company posted a net income of $1.2 million (5 cents per diluted share) as compared to a net loss of $46,000 (0 cents) in the year-ago period.

Salem's broadcast segment saw net broadcast revenue increase 1.3% to $147.4 million from $145.5 million. SOI was up 1.6% to $37.3 million from $36.7 million. Same station net broadcast revenue increased 1.8% to $144.9 million from $142.3 million and same station SOI grew 2.8% to $38.5 million from $37.5 million. Digital media revenue fell 3% to $31.1 million from $32.0 million and digital media operating income declined 7.4% to $6.3 million from $6.8 million.

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