Saga Com Reports 2Q Revenue Was Flat

Saga Communications, Inc. today reported net operating revenue of $33.8 million for the quarter ended June 30, 2014 which was flat with the same period last year.  Operating income from continuing operations was $8.2 million.  Net income for the period was $4.8 million and free cash flow was $5.9 million.  Station operating expense was $23.5 million (station operating expense includes depreciation and amortization attributable to the stations).

Net operating revenue for the period ended June 30, 2014 increased 0.7% to $63.3 million compared to $62.8 million for the same period last year.  Operating income from continuing operations was $12.5 million.  Net income for the period was $7.2 million ($1.24 per fully diluted share) and free cash flow was $9.3 million.  Station operating expense was $46.5 million (station operating expense includes depreciation and amortization attributable to the stations).

Capital expenditures in the 2nd quarter of 2014 were $1.5 million compared to $1.3 million for the same period last year.  The Company currently expects to spend approximately $5.5 million for capital expenditures during 2014.

Milwaukee-based Saga owns or operates broadcast properties in 25 markets, including 62 FM and 30 AM radio stations, 3 state radio networks, 2 farm radio networks, 4 television stations and 4 low-power television stations.