Saga Communications, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 06:30 pm IST
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Saga Communications, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 29.15 million compared to USD 29.98 million a year ago. Net income was USD 2.73 million compared to net loss of USD 0.104 million a year ago. Basic earnings per share from continuing operations was USD 0.45 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the nine months, sales was USD 83.63 million compared to USD 84.77 million a year ago. Net income was USD 7 million compared to USD 4.92 million a year ago. Basic earnings per share from continuing operations was USD 1.15 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 1.15 compared to USD 0.82 a year ago.
Saga Communications, Inc. is a media company engaged in acquiring, developing, and operating broadcast properties with a focus on opportunities complimentary to its core radio business, including digital, e-commerce and non-traditional revenue initiatives. The Company owns or operates broadcast properties in about 27 markets, including 79 frequency modulation (FM), 31 amplitude modulation (AM radio stations and 78 metro signals. The radio stations that it owns and/or operates employ a variety of programming formats, including Classic Hits, Country, Classic Country, Hot/Soft/Urban Adult Contemporary, Oldies, Classic Rock, Rock, and News/Talk. It operates in markets, including Asheville, Bellingham, Brattleboro, Bucyrus, Champaign, Charleston, Charlottesville, Clarksville, Columbus, Des Moines, Harrisonburg, Hilton Head Island, Jonesboro, Manchester, and Milwaukee, among others.