Salem Revenue Off, Income Up For Q2
August 7, 2008 at 5:27 AM (PT)
SALEM COMMUNICATIONS second-quarter revenue fell 2.2% to $57.5 million, but net income jumped 20.5% to $3.5 million (15 cents/diluted share). The company's broadcast division revenues fell 5.1% (same station off 5.5%) to $49.9 million.
For third quarter 2008, the company is projecting total revenue to drop in the low-single digit range over third-quarter 2007 total revenue of $56.9 million.