Beasley Q2 Revenues Drop 2.4%
August 3, 2006 at 6:05 AM (PT)
BEASLEY BROADCAST GROUP second quarter net revenue fell 2.4% to $32.2 million and net income dropped 16.3% to $3.2 million (13 cents/diluted share), blamed on the soft radio ad market and a reduction in non-cash trade sales revenue. PHILADELPHIA, FORT MYERS, BOCA RATON, and AUGUSTA were bright sports showing revenue gains, with the other six clusters falling.
The company projects a drop of 5% in net revenue for third quarter.