Saga Q1 Revenues Off 17.2%
May 8, 2009 at 5:00 AM (PT)
SAGA COMMUNICATIONS first quarter net operating revenue fell 17.2% to $26.1 million. The company dropped from net income of $910,000 for first quarter 2008 to a net loss of $362,000 (18 to -9 cents/diluted share) this year, its second consecutive quarterly loss.
The company's radio segment saw revenues fall from $27.381 million to $22,697 million, and operating income off from $5.468 million to $2.38 million.