What’s Up With Salem? Revenue … and Expenses
Conservative talk and Christian-themed content specialist Salem Media Group enjoyed a Total Revenue gain of 5.6%, to $71.3 million, during Q3, the California-based company reported on Monday.
The overall revenue climb is largely attributable to a jump in its net broadcast revenue, which moved from $49.5 million a year ago to $51.1 million.
But, that wasn’t the only thing that increased for Salem. Like Entercom, which also reported its Q3 results on Monday, Salem’s operating expenses increased from $58.7 million to $62.4 million.
Meanwhile, operating income was flat, inching ahead from $2.1 million to $2.2 million. This leaves Salem’s earnings per share unchanged from Q3 2015, at 8 cents.
While broadcast net revenue increased, Salem’s all-important Station Operating Income (SOI) fell 2.1%, to $13.6 million. Same-station SOI decreased 1.5%, to $13.8 million.
Looking to Q4, Salem predicts total revenue to be either down 1% … or up 1%.
The company is also projecting increased operating expenses.