Thursday, May 4, 2017
Saga Reports 4.1 Percent Revenue Drop
The Company also reported that primarily due to a reduction in political revenue of $1.3 million from the same period last year net revenue decreased 4.1% ($1.3 million) to $31.4 million for the quarter ended March 31, 2017. Station operating expense increased 1.5% to $25.1 million (station operating expense includes depreciation and amortization attributable to the stations). Operating Income decreased $1.9 million to $3.5 million. Free cash flow for the quarter was $3.2 million.
Capital expenditures were $1.4 million in the first quarter compared to $1.0 million for the same period last year. The Company expects to spend approximately $5.0 million to $5.5 million for capital expenditures during 2017.
Posted 6:03:00 AM