Saga Reports 6.8% Increase In Revenue

Saga Communications, Inc. today reported net revenue increased 6.8% to $36.1 million for the quarter ended September 30, 2016.

• Operating Income increased 43.5% to $9.3 million.  
• Station operating expense increased 4.7% to $25.5 million (station operating expense includes depreciation and amortization attributable to the stations).  
• Free cash flow was flat at $5.4 million. 
• Same Station net revenue increased 2.2% to $33.9 million and same station operating expense was flat at $23.9 million.  Net income for the period was $5.4 million ($0.92 per fully diluted share compared to $0.53 for the same period last year). 

Net Revenue increased 8.3% to $105.3 million for the nine months ended September 30, 2016.

• Free cash flow increased 14.2% to $16.8 million.  
• Station operating expense increased 5.8% to $75.6 million (station operating expense includes depreciation and amortization attributable to the stations). 
• Operating income increased 29.8% to $23.1 million.  
• Net income for the six-month period was $13.3 million ($2.26 per fully diluted share compared to $1.67 for the same period last year). 
• Capital expenditures were $1.6 million in the 3rd quarter compared to $2.2 million for the same period last year and $4.2 million for the nine-month period compared to $4.4 million last year.  The Company expects to spend approximately $5.0 million to $5.5 million for capital expenditures during 2016.