Salem Media Group (NASDAQ: SALM) reported Q4 EPS of $0.12, $0.09 better than the analyst estimate of $0.03. Revenue for the quarter came in at $64.5 million versus the consensus estimate of $62.4 million.

For the quarter ended December 31, 2020 compared to the quarter ended December 31, 2019:

Consolidated

• Total revenue decreased 0.2% to $64.5 million from $64.6 million;
• Total operating expenses decreased 7.7% to $58.1 million from $63.0 million;
• Operating expenses, excluding gains or losses on the disposition of assets, stock-based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation expense and amortization expense (1) increased 0.3% to $54.6 million from $54.4 million;
• Operating income increased 283.0% to $6.4 million from $1.7 million;
• The company’s net income increased $7.8 million to $3.3 million, or $0.12 net income per diluted share compared to a net loss of $4.5 million, or $0.17 net loss per share;
• EBITDA (1) increased 42.1% to $9.8 million from $6.9 million;
• Adjusted EBITDA (1) decreased 3.0% to $9.9 million from $10.2 million; and
• Net cash used by operating activities decreased to $0.3 million from net cash provided by operating activities of $2.5 million.
• For earnings history and earnings-related data on Salem Media Group (SALM) click here.