Saga Fourth Quarter Revenues Up, Net Income Down

Q4 Results

SAGA COMMUNICATIONS, INC. net revenue increased 4.7% year-to-year to $32.9 million for fourth quarter 2018.  Income from continuing operations before tax also increased, from $3.7 million to $6 million, while operating income rose from $3.9 million to $6 million.

Net income dropped from $14.8 million to $4.3 million ($2.52 to 72 cents per basic or diluted share), largely due to a $11.2 million income tax benefit in 2017 that was not applicable to 2018.  Free cash flow from continuing operations dropped from $6.6 million to $5.9 million.

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