Salem First Quarter Revenues, Income Drop

Down Quarter

First-quarter SALEM MEDIA GROUP, INC. consolidated total revenue fell 5.2% year-to-year to $60.5 million, with net broadcast revenue down 4.1% to $46.1 million (same station down 2.9% to $45.5 million), digital media revenue off 1.5% to $10.2 million, and publishing revenue decreasing 22.7% to $4.1 million. 

Net income fell 61.1% to $0.3 million (1 cent/diluted share), and EBITDA decreased 64.1% to $3.7 million (Adjusted EBITDA off 25.4% to $7.6 million).

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