Revenues Rise For Salem In Fourth Quarter
March 10, 2011 at 1:54 PM (PT)
SALEM COMMUNICATIONS CORP. fourth-quarter total revenue increased 6.4% to $54.1 million and net income increased from a loss of $1.6 million (including $4.7 million in charges and impairment) to a gain of $700,000 (including $1.6 million in charges and impairment) (loss of 7 cents/diluted share to gain of 3 cents/diluted share). Net broadcast revenue rose 2.8% to $44.5 million (same-station up 2.6% to $44.2 million); non-broadcast revenue rose 27.3% to $9.5 million.
The company projects first-quarter total revenue to increase 5% to 7%.