Salem Q3 Total Revenue Is $54.4 Million
November 10, 2008 at 5:12 AM (PT)
SALEM COMMUNICATIONS has announced results for the three and nine months ended SEPTEMBER 30th, 2008.
Highlights include Total Revenue decreasing 4.3% to $54.4 million from $56.9 million and Operating Expenses increasing 46.3% to $68.7 million from $46.9 million. Operating Loss from continued operations was $14.2 million for the quarter as compared to $10.0 million operating income in the prior year; Net Loss was $11.0 million, or $0.47 net loss per share, compared to a net income of $2.1 million, or $0.09 net income per diluted share; EBITDA was a loss of $9.7 million for the quarter as compared to earnings of $13.8 million in the prior year and Adjusted EBITDA decreased 14.5% to $12.7 million from $14.9 million.