Salem Revenues Up, Income Flat For Third Quarter
November 7, 2016 at 1:27 PM (PT)
SALEM MEDIA GROUP third quarter 2016 revenue increased 5.6% to $71.3 million, with net income up basically flat from $2.1 million to $2.2 million (8 cents/diluted share). Net broadcast revenue increased 3.2% to $51.1 million; Publishing revenue increased 18.9% to $8.2 million; and digital media revenue increased 7.8% to $12 million.
Guidance for fourth quarter is for total revenue to be between a decrease of 1% and an increase of 1% over last year's $69.1 million.