Saga Communications reports Q2 results

By on Aug, 11 2014 with Comments 0

Saga Communications, Inc.Saga Communications, Inc. (NYSE MKT: SGA) today reported net operating revenue of $33.8 million for the quarter ended June 30, 2014 which was flat with the same period last year. Operating income from continuing operations was $8.2 million. Net income for the period was $4.8 million ($0.82 per fully diluted share) and free cash flow was $5.9 million. Station operating expense was $23.5 million (station operating expense includes depreciation and amortization attributable to the stations).

Net operating revenue for the period ended June 30, 2014 increased 0.7% to $63.3 million compared to $62.8 million for the same period last year. Operating income from continuing operations was $12.5 million. Net income for the period was $7.2 million ($1.24 per fully diluted share) and free cash flow was $9.3 million. Station operating expense was $46.5 million.

Capital expenditures in the 2nd quarter of 2014 were $1.5 million compared to $1.3 million for the same period last year.  The Company currently expects to spend approximately $5.5 million for capital expenditures during 2014.

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