Salem Q3 Overall Revenues Up 3.1%, Radio Roughly Flat
November 5, 2013 at 1:25 PM (PT)
SALEM COMMUNICATIONS CORPORATION third quarter 2013 total revenue increased 3.1% year-to-year to $58.5 million, with net income up 58% to $5.3 million (21 cents per diluted share). Net broadcast revenue registered a small increase 0.3% to $46 million, but dipped 0.7% on a same station basis to $45.6 million.
The company projects total revenue to fall 0-2% in fourth quarter due to loss of 2012's strong political revenue; excluding political, revenue would be increasing 2-4% according to the company's projections.