Saga Ups Buyback Program, Announces Q4 Estimates
January 28, 2008 at 12:36 PM (PT)
SAGA COMMUNICATIONS has upped the amount of money committed to its stock buyback program from $30 million to $60 million, The company has purchased 1,907,210 shares so far under the program, with a value of $26,251,776.
SAGA also announced preliminary estimates for fourth quarter and full year 2007. Fourth quarter revenue is expected to be in the $37.3-37.7 million range, with staiton operating income between $12.1-12.5 million and net income between $3-3.2 million. For the full year 2007, revenue is expected to be between $143.5-144.5 million, with station operating income of $45.5-45.9 million and net income of $10.9-11.1 million.