Tue, Mar. 10, 4:57 PM
- Christian/conservative radio firm Salem Media Group (SALM -3%) posted revenue that grew, but still missed expectations by about 1%, and a breakeven quarter as total operating expenses rose 11.3%.
- Operating income dropped 28% to $6.9M. Salem reported GAAP net income of $0.00 vs. an expected $0.14, as increased expenses took their toll and backing out a provision for income taxes left income of $38K.
- Revenue by segment: Broadcast, $48.8M (flat); digital media, $11.7M (up 15%); publishing, $5.4M (up 47%).
- The company guides for revenues to drop 1-3% Y/Y in Q1, which would put it about $60.4M-$61.7M vs. expectations of $66.2M.
- Conference call at 5 p.m. ET.
- Press release
Tue, Mar. 10, 4:15 PM
Tue, Feb. 3, 4:09 PM
- Cumulus Media (NASDAQ:CMLS) finished up 11.9% ahead of a March 2 release of its Q4 results.
- The company has set a conference call at 4:30 p.m. ET that day to discuss earnings.
- Expectations are for an EPS of $0.09 on revenues of $333.2M.
- Commercial-radio peers have also had a strong day: Saga Communications (SGA +2.4%); Emmis Communications (EMMS +0.5%); Salem Communications (SALM +2.1%); Radio One (ROIAK +1.7%); Entercom (ETM +2.8%); and Townsquare Media (TSQ +3.2%).
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