- In its Q3 report, Salem Media Group (NASDAQ:SALM) noted revenues that fell (though they beat expectations, and net broadcast revenues were up) and profit that missed consensus in a quarter where the company reclassified some prior-year results.
- Salem changed operating segments to better conform to its business after acquiring Eagle Publishing last year. Net income fell to $2.1M from a prior $3.7M.
- Revenue by segment: Net broadcast, $49.2M (down 1.9%); Net digital media, $11.4M (down 1%); Net publishing, $6.9M (down 29.9%).
- It's projecting Q4 revenues to increase 1-3% Y/Y from the prior year's $65.9M, and for adjusted operating expenses to go up between 1-4%.
- Press Release