Saga First Quarter Revenues, Net Income Down

Revenues Slip

SAGA COMMUNICATIONS, INC. first quarter net revenue fell from $28,009,000 to $27,816,000 ($26.8 million on a same-station basis), with net income off from $1,529,000 to $1,370,000 (26 to 23 cents/basic and diluted share). Free cash flow increased from $2,287,000 to $2,611,000.

The 2019 quarter included the addition of radio stations purchased in the GAINESVILLE-OCALA market, added as of DECEMBER 31, 2018.  SAGA had $39.2 million in cash on hand as of MARCH 31st and $40.7 million as of MAY 6th; its total bank debt was $15 million as of the end of the quarter.

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