Saga Q3 Revs Off 13.7%
November 9, 2009 at 2:28 PM (PT)
SAGA COMMUNICATIONS TODAY reported that Q3 net operating revenue decreased 13.7% from the comparable period in 2008 to $31.3 million. For the same period, station operating expense decreased $3.0 million to $23.6 million.
The company says a large part of the decrease in station operating expense was a result of cost reduction initiatives. This helped to reduce the impact that the decline in net operating revenue had on our operating results. On a same station basis for the quarter, net operating revenue decreased 14.7% to $30.9 million, operating income was $5.6 million and station operating expense decreased $3.2 million to $23.4 million.
SAGA's free cash flow increased 5.1% to $5.8 million compared to $5.5 million for the same period last year.