Beasley Q3 Revenue Up, Net Income Drops

BEASLEY third quarter consolidated net revenue rose 1% to $32.1 million, with operating income off 7% to $7.9 million, station operating income up 4% to $11.2 million, and net income off from $4.1 to $3.8 million (17 to 15 cents/diluted share). Strong performance in PHILADELPHIA and FORT MYERS-NAPLES was offset by drops in MIAMI, LAS VEGAS, and AUGUSTA, GA.

Fourth quarter guidance is for revenue to decrease 12% due to the loss of MIAMI DOLPHINS football at WQAM-A/MIAMI, loss of political advertising, and the flip of KJUL/LAS VEGAS to country with an opening month running commercial-free.

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