Salem Revenues Up For Second Quarter
August 7, 2014 at 1:25 PM (PT)
SALEM COMMUNICATIONS Q2 2014 total revenue rose 14.1% to $68.6 million, with net broadcast revenue up 1.8% to $47.9 million, Internet and e-commerce jumping 45.3% to $14.4 million, and publishing revenue up 99.4% to $6.4 million with the acquisition of EAGLE PUBLISHING in JANUARY, featuring two REGNERY PUBLISHING books hitting the NEW YORK TIMES best seller list. Net income decreased from $5.2 million to to $1.3 million (20 to 5 cents/diluted share).
The company projects third-quarter revenue to increase 13% to 15% over third-quarter 2013's $58.5 million. Without the acquisition of EAGLE PUBLISHING, the company would be projecting a revenue increase of 2% to 4%.