Salem Communications’ Q4 revenue increased 3.5% to $62.7 million from $60.6 million in Q4 2012. Total operating expenses were up 5.3% to $53.0 million from $50.3 million. Net broadcast revenue were up slightly–1.0% to $47.4 million from $47.0 million. Station operating income decreased 4.0% to $15.8 million from $16.5 million; and same station net broadcast revenue increased 0.2% to $47.0 million from $46.9 million.
Internet and e-commerce was up a healthy 16.6% to $11.9 million from $10.2 million; and Internet and e-commerce operating income increased 33.2% to $3.9 million from $2.9 million.
Publishing revenue was flat at $3.4 million; and publishing operating income decreased to a $0.1 million loss from $0.1 million income.
YTD, total revenue increased 3.4% to $236.9 million from $229.2 million; operating expenses increased 1.9% to $202.4 million from $198.7 million; Operating expenses excluding gains or losses on the sale or disposal of assets, stock-based compensation expense and impairment charges increased 4.7% to $199.4 million from $190.4 million;
The company had a net loss of $2.7 million, or $0.11 net loss per share, compared to net income of $4.4 million, or $0.18 net income per diluted share, in the prior year.
Net broadcast revenue increased 0.3% to $183.7 million from $183.2 million; Station operating income decreased 2.5% to $60.8 million from $62.4 million;
Same station net broadcast revenue decreased 0.6% to $181.9 million from $183.1 million.
Internet and e-commerce revenue increased 22.2% to $40.9 million from $33.5 million; and Internet and e-commerce operating income increased 50.4% to $12.5 million from $8.3 million.
Publishing revenue decreased 1.5% to $12.3 million from $12.5 million; and
The publishing division had a loss of $1.0 million compared to income of $0.2 million for the year.
