Beasley Q1 Revenue Up, Net Income Falls
May 2, 2007 at 5:45 AM (PT)
BEASLEY BROADCAST GROUP first-quarter net revenue rose 13.7% to $30.8 million, aided by the addition of Talk KDWN-A/LAS VEGAS and AC WJBR/WILMINGTON, DE plus growth at other LAS VEGAS stations and at six of the other nine BEASLEY clusters, but net income dropped 31.5% to $1.1 million (5 cents/diluted share). Same-station net revenue rose 6.1% to $28.7 million.
The company's guidance for second quarter forecasts a same-station net revenue decline of 2% (a gain of 5% figuring in KDWN, WJBR, and the new KBET-A/LAS VEGAS).