Q3 net revenues rose 7.2% for Beasley Broadcast Group to 33.3 million, although operating income declined 20.8% to 5.1 million. A lot of the revenue increase was due to the addition of WJBR-FM Wilmington, DE and broadcasting the NFL Dolphins football games in Miami. Otherwise, revenues were down in seven of the company’s 11 markets. On the expense side, adding the Dolphins increased costs in Miami and there were costs associated with WJBR and another new station KDWN-AM Las Vegas. On a same station basis, Q3 revenues were down 2.1% and station operating income was off 13.9%. Looking ahead, Beasley expects Q4 revenues to be down 2%, which is a drop of 6% on a same station basis (excluding the Dolphins as well). President Bruce Beasley said the company is well positioned for 2008 and he expects his company’s clusters to continue to outperform their markets.
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