The owner of a group of radio stations offering conservative Talk, non-secular spoken word programming, and Christian Pop music under “The Fish” brand will be revealing its Q4 2018 and full-year results in exactly two weeks.
Salem Media Group, which trades on NASDAQ as “SALM,” plans to report its financial results after the market closes on March 12.
Company executives including CEO Ed Atsinger III (pictured) are expected to discuss the results in a 5pm Eastern teleconference from Salem’s Southern California headquarters.
What can Salem be expected to deliver? In November 2018, the company said it projected flat to slightly down (-2%) total revenue in Q4, off from Q4 2017 revenue of $67.2 million.
Salem also projected operating expenses to rise by 1%-4%, before gains or losses on the disposition of assets, stock-based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation expense and amortization expense, on a non-GAAP basis.
Salem stock began Tuesday’s trading session at $2.80. The start of 2019 brought some stabilization to SALM, which had fallen as low as $2.09 on the final day of 2018. On Sept. 21, Salem had been priced at $4.
Further, a $5.95 close was seen on July 2, 2018, culminating a rally that started in late April 2018.
Alas, the rally fizzled, with Salem shares unable to recover to levels seen above $6 a share for much of 2017 … never mind a March 14 flirtation with $10 a share.
Salem holds a 1-year target estimate of $4.75.