Salem Q3 Revenue Up

SALEM COMMUNICATIONS third quarter net broadcasting revenue increased 8.3% to $51.2 million, with operating income up 41.4% to $11.5 million, station operating income up 8.4% to $19.8 million, EBITDA up 27.9% to $14.5 million, adjusted EBITDA up 6.3% to $15.1 million, and net income up 33.7% to $3.4 million (13 cents/diluted share). Revenue at the company's secular talk stations jumped 15.3%, while CHristian teaching/talk stations were up 5.2%, KFSH (95.9 THE FISH)/LOS ANGELES is up 12.1%, and WFSH (104.7 THE FISH)/ATLANTA is up 13.5%.

The company projects net fourth quarter broadcasting revenue between $51.5 and $52 million, with station operating income between $19.2 to $19.7 million (low to mid-single digit growth) and net income of 11-13 cents/share.

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