Same station net revenues were up 9.1% in Q4 to $27 million at Beasley Broadcast Group. Station operating income (SOI), also on a same station basis, gained 24.5% to $10.4 million.
Beasley had quite a bit of adjustment for the same station results. On an as reported basis, net revenues were up only 3.1% and SOI shot up 34.2%.
Beasley cut a lot of expense from a year ago by the non-renewal of expensive sports rights in its Miami cluster.
“Fourth quarter 2010 same-station net revenue rose 9.1%, marking the strongest quarterly same-station top line growth we have generated since early 2005. Our fourth quarter same-station revenue growth reflects the improving industry environment and was driven by increases at many of our market clusters including Philadelphia, Miami, Las Vegas, Wilmington, Augusta and Fayetteville. With the Company’s streamlined operating and cost structure, we are generating significant flow through from revenue growth and reflecting that strong operating leverage, fourth quarter same-station SOI increased 24.5% to $10.4 million, the highest level of fourth quarter SOI that we’ve achieved since the fourth quarter of 2006, while SOI margins rose to 39%, up from 34% in the fourth quarter last year,” said founder and CEO George Beasley in the formal news release. He has lately been leaving the quarterly conference call with Wall Street analysts to the next generation of the Beasley family. Click here for those comments.