Salem Media Group (SALM) Misses Q1 EPS by 1c

Salem Media Group (NASDAQ: SALM) reported Q1 EPS of $0.03, $0.01 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $63.8 million versus the consensus estimate of $63.59 million.

Consolidated

• Total revenue decreased 1.8% to $63.8 million from $65.0 million;
• Total operating expenses decreased 3.4% to $58.1 million from $60.2 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, impairments, depreciation expense and amortization expense (1) decreased 1.9% to $53.6 million from $54.6 million;
• Operating income increased 17.7% to $5.7 million from $4.8 million;
• Net income decreased 21.9% to $0.8 million, or $0.03 net income per diluted share from $1.1 million, or $0.04 net income per diluted share;
• EBITDA (1) increased 10.5% to $10.2 million from $9.3 million;
• Adjusted EBITDA (1) decreased 1.3% to $10.2 million from $10.3 million; and
• Net cash provided by operating activities increased 42.4% to $12.9 million from $9.0 million.

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

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