Saga Revenues Up 9% In First Quarter
May 8, 2013 at 4:28 AM (PT)
SAGA COMMUNICATIONS has reported that net income for Q1 increased 9.0% to $3.0 million ($0.51 per fully diluted share) compared to net income of $2.7 million ($0.48 per fully diluted share) for the same period last year.
Net operating revenue for the quarter ended MARCH 31, 2013 decreased 1.3% to $29.0 million from $29.3 million for the same period last year. Operating income from continuing operations decreased 1.9% to $4.9 million compared to $5.0 million for the same period last year. Station operating expense decreased 1.2% to $22.1 million (station operating expense includes depreciation and amortization attributable to the stations).
Capital expenditures in the 1st quarter of 2013 and 2012 were $1.2 million. The Company currently expects to spend approximately $5.0 million for capital expenditures during 2013.