Salem Media Group Q4 Total Revenue Down 3.8%, Loss Widens

RADIO ONLINE | Thursday, March 12, 2020

Salem Media Group

Salem Media Group reported fourth quarter total revenue decreased 3.8% to $64.6 million from $67.2 million in 2018. Net broadcast revenue declined 1.2% to $50.5 million from $51.1 million, while Station Operating Income (SOI) was down 0.8% to $12.5 million from $12.6 million. Total operating expenses decreased 0.9% to $63 million from $63.5 million. Operating income fell 54.6% to $1.7 million from $3.7 million. The company posted a net loss gain of 47.5% to $4.5 million (17 cents per share) as compared to a net loss of $3.1 million (12 cents) in the year-ago period.

For the first quarter of 2020, the company is projecting total revenue to be between flat and a decrease of 2% from first quarter 2019 total revenue of $60.5 million. Excluding the impact of recent acquisitions and dispositions, the company is projecting total revenue to be between flat and an increase of 2%.