Saga Communications Q1 Net Revs Up 1.3% to $25.3 Million

RADIO ONLINE | Wednesday, May 3, 2023 | 3:42pm CT

Saga Communications

Saga Communications reported net revenue increased 1.3% to $25.3 million from $24.9 million in 2022. Station operating expense grew $1.1 million to $21.7 from $20.5 million, while station operating income decreased $770,000 to $4.8 million and operating income was $905,000 down from $1.7 million. Free cash flow was $1.1 million, a decrease from $1.9 million. The company posted a net income of $920,000 (15 cents per diluted share) as compared to net income of $1.2 million (20 cents) in the year-ago period.

The company paid a quarterly dividend of $0.25 per share on April 7. The aggregate amount was approximately $1.5 million. To date Saga has paid over $108 million in dividends to shareholders since the first special dividend was paid in 2012.