Saga Communications Reports 3rd Quarter 2011 Results
November 3, 2011 at 9:11 AM (PT)
SAGA COMMUNICATIONS has reported third-quarter financial results.
Net income for Q3 increased 3.9% to $3.7 million ($0.87 per fully diluted share compared to $0.84 per fully diluted share for the same period last year). Free cash flow was flat with the same period last year at $6.0 million.
For the three month period ended SEPTEMBER 30th, 2011, net operating revenue decreased 1.0% from the comparable period in 2010 to $32.5 million with operating income of $7.0 million compared to $7.4 million for the same period last year. For the same period, station operating expense was also even with last year at $23.6 million (station operating expense includes depreciation and amortization attributable to the stations).