Salem Communications (SALM) increases its guidance

Apr.18.05 | About: Salem Media (SALM)

Salem Communications (ticker: SALM) increased its revenue guidance for 1Q05, forecasting net broadcasting revenue growth and same station net revenue growth of 10%

1Q04 Actual results:

  • Net broadcasting revenue growth: $43.2 million
  • Same-station net broadcasting revenue growth: $42.6 million

1Q05 Forecast based on new guidance:

  • Net broadcasting revenue growth: $47.52 million
  • Same-station net broadcasting revenue growth: $46.86 million

Previous guidance (from 4Q04 earnings release):

  • Revenue: $46.7M - $47.2M
  • EPS: $0.06 - $0.08
  • Station operating income: $16.0M - $16.5M

Quick comment:  SALM's increased guidance comes a few days after Beasley Broadcast Group (NASDAQ:BBGI) increased its 1Q05 guidance.  The consensus EPS estimate for SALM is currently $0.08 but will probably increase based on the revised revenue guidance.

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