Salem Media Group (SALM) Tops Q2 EPS by 3c

Salem Media Group (NASDAQ: SALM) reported Q2 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $67.8 million versus the consensus estimate of $69.35 million.

Consolidated

• Total revenue increased 1% to $67.8 million from $67.3 million;
• Total operating expenses increased to $58.1 million from $58.0 million;
• Operating expenses, excluding gains or losses on the sale or disposal of assets, stock-based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairment of long-lived assets, depreciation expense and amortization expense (1) increased 2% to $54.9 million from $53.8 million;
• Operating income increased 5% to $9.7 million from $9.3 million;
• Net income decreased 5% to $3.4 million, or $0.13 net income per diluted share from $3.5 million, or $0.14 net income per diluted share;
• EBITDA (1) increased 2% to $13.9 million from $13.6 million;
• Adjusted EBITDA (1) decreased 5% to $12.9 million from $13.5 million; and
• Free cash flow (1) decreased 13.0% to $6.5 million from $7.5 million.

For earnings history and earnings-related data on Salem Media Group (SALM) click here.

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