Saga Predicts 2016 CapEx of About $5M
Saga Communications reported net revenue increased 6.1% to $36.4 million for the second quarter. Same station net revenue increased 0.8% to $34.2 million and same station operating expense was flat at $24 million.
Net income for the period was $4.8 million and free cash flow increased 15.6% to $6.5 million.
Capital expenditures were $1.5 million in the 2nd quarter compared to $1.3 million for the same period last year. Saga expects to spend approximately $5 million to $5.5 million for capital expenditures during 2016.