Saga 2007 Revs Up Slightly
February 28, 2008 at 9:20 AM (PT)
SAGA COMMUNICATIONS, INC. has reported net operating revenue for the year ended DECEMBER 31, 2007 increased 0.8% over the comparable period in 2006 to $144.0 million. The Company reported $3.5 million of net political revenue during the year ended DECEMBER 31, 2006 compared to $1.4 million for the same period in 2007. Excluding political revenue, the Company's net operating revenue increased 2.3% for the period.
Station operating expense increased 1.8% to $106.3 million (station operating expense includes depreciation and amortization attributable to the stations) and operating income decreased 6.9% to $27.9 million.
Net income decreased 11.6% to $11.0 million ($.55 per fully diluted share) for the year ended DECEMBER 31, 2007 compared to $12.5 million ($.61 per fully diluted share) for the same period in 2006. On a same station basis for the year, net operating revenue increased 0.1% to $143.0 million, operating income decreased 8.1% to $27.7 million and station operating expense increased 1.2% to $105.4 million.