Salem Revenue Down, Net Loss Widens For Second Quarter 2019

Q2 Revenues

SALEM MEDIA GROUP second quarter 2019 total revenue fell 2.4% year-to-year to $64.7 million, with operating income up from $1.3 million to $5.7 million. Net loss widened from $2.2 million to $3.6 million (8 to 14 cents/per share), while EBITDA increased 59.9% to $9.6 million but Adjusted EBITDA decreased 9.4% to $10.2 million.

On the broadcast side, net revenue dipped 2.9% to $49.1 million (same station off 1.9% to $48.9 million from $49.8 million. Digital media division revenue fell 2.9% to $10 million, and publishing revenue rose 3.5% to $5.6 million.

Third quarter guidance is for a 4-6% decrease in total revenue year-to-year (2-4% excluding political revenue and recent acquisitions and asset sales).

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