Saga Says Revenue Was Down 1.2 Percent During 1Q 2015

Saga Communications, Inc. Tuesday reported free cash flow increased 5.2% to $3.6 million for the quarter ended March 31, 2015 compared to $3.4 million for the same period last year.

Net Revenue decreased 1.2% to $29.1 million compared to $29.4 million for the same period last year.  Station operating expense decreased 0.8% to $22.8 million (station operating expense includes depreciation and amortization attributable to the stations) compared to $23.0 million for the same period last year.  Operating income was $3.8 million.  Net income for the period was $2.1 million ($0.36 per fully diluted share).

Capital expenditures were $1.0 million in the 1st quarter compared to $1.5 million for the same period last year.  The Company currently expects to spend approximately $4.5 million to $5.0 million for capital expenditures during 2015.