Salem Media Group Q1 Revenue Up 1.4% to $63.5 Million
| RADIO ONLINE | Tuesday, May 9, 2023 |
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 Salem Media Group |
Salem Media Group reports first quarter total revenue increased 1.4% to $63.5 million from $62.6 million in 2022. Total operating expenses climbed 17.4% to $67.7 million from $57.6 million. EBITDA decreased 107.6% to $(0.6) million from $8.2 million, while adjusted EBITDA fell 79.6% to $1.4 million from $6.8 million. The company posted a net loss of $5.2 million (19 cents per diluted share) as compared to net income of $1.7 million (6 cents) in the year-ago period.
Net broadcast revenue decreased 0.2% to $48.3 million from $48.4 million and station operating income (SOI) declined 46.4% to $5.5 million from $10.3 million. Same station net broadcast revenue was down 0.5% to $48.1 million from $48.4 million, while and same station SOI dropped 41.6% to $6 million from $10.3 million. Digital media revenue grew 2% to $10.5 million from $10.3 million.
For the second quarter of 2023, the company is projecting total revenue to decline between 5% and 7% from the second quarter 2022 total revenue of $68.7 million.
