Beasley Reports Q3 Revenue Of $30.6 Million
November 5, 2008 at 5:21 AM (PT)
BEASLEY BROADCAST GROUP has announced operating results for the three- and nine-month periods ended SEPTEMBER 30th, with Q3 Net Revenue down 8.2% from $33.3 million for the period in 2007, to $30.6 million for Q3 2008. Operating income increased 18.8% from $5.1 to $6.0 million and Net Income was up 133.6% from $1.0 to $2.3 million.
For the 9 month period ending SEPTEMBER 30th, Net Revenue was down 8.0% from $98.9 to $91 million. Operating income was down from $27.5 to $26.4 million, a 3.8% loss and Net Income was up 39.1% from $4.3 to $5.9 million.
Commenting on the results, Chairman/CEO GEORGE G. BEASLEY said, "Given the many challenges that the industry faced during the third quarter of 2008, we believe that the notable rise in our SOI, net income and diluted EPS during the period highlights the ability of our station and corporate personnel to effectively manage our portfolio of stations."
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