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Saga Communications Q4 Net Revenues Increased 4.7%


Saga Communications
Saga Communications

Saga Communications reported fourth quarter net revenues increased 4.7% to $32.9 million from $31.4 million in 2017. Income from continuing operations before tax grew $2.3 million to $6 million compared to $3.7 million the previous year. Operating income was up $2.1 million to $6 million and station operating expense increased $523,000 to $23.8 million. The company posted net earnings of $4.29 million (72 cents per diluted share) as compared to $14.8 million ($2.52) in the year-ago period.

During Q4 the company recognized an income tax benefit of $11.2 million compared to an income tax expense of $1.7 million for the same period in 2017. The income tax benefit in 2017 was primarily due to an $11.5 million reduction in our deferred tax liability. Free cash flow from continuing operations was $5.9 million for the quarter compared to $6.6 million for the same period in 2017.

During the fourth quarter, Saga closed on its purchase of WOGK-FM, WNDT-FM, WNDD-FM and WNDN-FM in Gainesville-Ocala, FL, from Ocala Broadcasting.

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Benztown: Benztown was at Radiodays Europe 2024, which was held in Munich on March 17-19th. Benztown hosted a well-attended party for customers and partners during Radiodays Europe 2024 on Monday, March 18. Pictured is a traditional Volksmusik band performed for Benztown party attendees at Munich's Augustiner-Keller restaurant. In front in black shirt raising a glass is Oliver Klenk, Head of Production & Composition, and to his right, also in black shirt, is Stephan Halfpap, General Manager, Maxmedia, Austria.

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