Beasley Broadcast Group (BBGI) reports higher than expected revenues and EPS

May. 2.05 | About: Beasley Broadcast (BBGI)

Beasley Broadcast Group (ticker: BBGI) reported results on May 2, 2005 for
the first quarter 2005.

Results 1Q05 vs. 1Q04:

  • EPS: $0.07 vs. $0.01 (+600%)
  • Consensus EPS was $0.05
  • Revenue: $28.6M vs. $26.1M (+10%)
  • Consensus revenue was $28.34M
  • Operating income: $4.1M vs. $4.7M (-13%)
  • Operating margin: 14.3% vs. 18% (-370bps)
  • Net income: $1.6M vs. $0.2M (+700%)
  • Net margin: 5.6% vs. 0.8% (+480bps)
  • Cash: $17.1M vs. $14.9M (+15%)
  • Station Operating Income: $6.6M vs. $7.1M (-7%)

2Q05 Guidance

  • Revenues: +5%
  • Revenues guidance is in-line with current consensus estimate of $32.6M
  • Expected strength in the Philadelphia market

Quick comments:

  • 1Q05 revenues grew 10%, which was the top end of its recently revised guidance of 8-10%
  • Station operating expenses increased 16%, which was above its revised 8-10% range
  • BBGI expects to convert 50%+ of its stations to HD Radio by year-end 2005

Bbgi_2