Saga Reports Revenues Up 4.4%

Revs Rise

SAGA COMMUNICATIONS has reported net operating revenue, with an increase of 4.4% to $34.4 million for the quarter ended SEPTEMBER 30th, compared to $32.9 million for the same period last year. Station operating expense was $26.4 million compared to $23.6 million for the same period last year. 

The $2.8 million increase was primarily due to an accrual attributable to the Company's expectations of entering into license agreements in the fourth quarter of 2014 which are currently under negotiation. Operating income from continuing operations was $5.7 million. Net income for the period was $3.3 million and free cash flow was $4.9 million.

Net operating revenue for the period ended SEPTEMBER 30th increased 2.0% to $97.6 million compared to $95.7 million for the same period last year. Operating income from continuing operations was $18.2 million. Net income for the period was $10.5 million and free cash flow was $14.3 million. Station operating expense was $72.8 million.

Capital expenditures in the 3rd quarter of 2014 were $0.9 million compared to $1 million for the same period last year.  The Company currently expects to spend approximately $5.5 million for capital expenditures during 2014.

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