Salem Media Group, Inc.(NasdaqGM:SALM) dropped from Russell 2000 Index
Jun 29 15
Salem Media Group, Inc. will be removed from Russell 2000 Index
Salem Media Group, Inc.(NasdaqGM:SALM) dropped from Russell 3000 Index
Jun 29 15
Salem Media Group, Inc. will be removed from Russell 3000 Index.
Salem Media Group, Inc. Declares Cash Distribution for the Second Quarter of 2015, Payable on June 30, 2015
Jun 2 15
Salem Media Group, Inc. announced that its board of directors has declared a cash distribution for the second quarter of 2015 in the amount of $0.0650 per share. The cash distribution will be paid on June 30, 2015 to all Class A and Class B common stockholders of record as of June 16, 2015.
Salem Media Group, Inc. Presents at Three Part Advisors East Coast IDEAS Investor Conference 2015, Jun-04-2015 09:20 AM
May 19 15
Salem Media Group, Inc. Presents at Three Part Advisors East Coast IDEAS Investor Conference 2015, Jun-04-2015 09:20 AM. Venue: Boston Park Plaza, 50 Park Plaza at Arlington St., Boston, MA 02116, United States.
Salem Communications Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for Second Quarter of 2015
May 6 15
Salem Communications reported consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $61,856,000 against $62,344,000 a year ago. Net operating was $5,703,000 against $5,331,000 a year ago. Income from operations before income taxes was $446,000 against $529,000 a year ago. Net income was $295,000 against net income of $431,000 a year ago. Basic and diluted income per share was $0.01 against basic and diluted per share of $0.02 a year ago. EBITDA was $10,170,000 against EBITDA of $10,126,000 a year ago. Adjusted EBITDA was $10,789,000 against EBITDA of $10,747,000 a year ago. Capital expenditures were $2,040,000 against $2,935,000 a year ago. For the quarter, total revenue declined 0.8%, but in a non-political year, the company is pretty pleased with that result. More significantly, its recurring operating expenses declined by 1.1%, resulting in an increase of adjusted EBITDA of 0.4% and, probably more significantly, a 17.5% increase in free cash flow.
For the second quarter of 2015, the company is projecting total revenue to decrease 2% to 4% over second quarter 2014 total revenue of $68.6 million. The second quarter of 2014 was benefited by both political revenue and the sales of two bestselling books. Excluding the impact of these items, the company would be projecting total revenue to be between flat and down 2%. The company is also projecting operating expenses before gains or losses on the disposal of assets, impairment losses, depreciation, amortization and stock-based compensation expense to be between flat and up 3% compared to the second quarter of 2014 operating expenses of $55.5 million.