Religious/Conservative Talk specialist Salem Communications reported that Q4 revenues were up 6.4% to $55.1 million in Q4. Look for similar growth in Q1, the company told investors.
For the first quarter of 2011, Salem is projecting total revenue to increase 5% to 7% over first quarter 2010 total revenue of $48.3 million.
Even though operating expenses increased 9% in Q4, Salem managed to grow EBITDA 5.7% to $13.2 million.
Net broadcast revenues were up 2.8% in Q4 to $44.5 million. Station operating income (SOI) declined 0.3% to $17 million. Same station revenues were up 2.6% and same station SOI was flat.
Non-broadcast revenue increased 27.3% in the quarter to $9.5 million. Non-broadcast operating income was up 22.4% to $1.6 million.
