Saga Q4 Revenue, Income Increase
March 10, 2015 at 6:38 AM (PT)
SAGA COMMUNICATIONS, INC. fourth-quarter net operating revenue increased 7.7% to $36.4 million. Station operating expense rose $1.8 million to $25.6 million, primarily due to agreements to license historic data from NIELSEN in selected markets. Net income for the period rose from $3.2 million to $4.4 million ($0.56 to $0.76 per fully diluted share).
SAGA also took a $1.9 million impairment charge to intangible assets during the quarter as a result of annual impairment testing.