Salem Communications (SALM) Misses Q4 EPS by 4c, Comments on Q1 Outlook
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Salem Communications Corporation (Nasdaq: SALM) reports Q4 EPS of $0.01, 4 cents worse than estimates. Revenues were $59.1 million vs. $58.33 million consensus.
The Company States: We have elected to discontinue the practice of providing specific quarterly revenue, SOI and earnings per share guidance. Going forward, Salem will provide a quarterly range for total revenue and operating expenses. Accordingly, for the first quarter of 2008, Salem is projecting total revenue to decrease in the low-single digit range over first quarter 2007 total revenue of $55.2 million. Salem is also projecting operating expenses before gain or loss on disposal of assets to increase in the low-to-mid-single digit range over first quarter of 2007 operating expenses of $46.7 million. (Q1 revenue consensus is $55.9 million)
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