Small gain, but a gain nonetheless


Saga Communications had an up quarter, despite continuing problems in its largest radio markets and, of course, the lack of political revenues this year for its TV stations. Net revenues rose 1.2% to 36.2 million and operating income gained 2.1% to 8.0 million. Radio revenues rose 1.6% to 31.9 million and operating income was up 3.4% to 9.4 million. On a same station basis, radio revenues were up 0.6% and operating income 1.2%. For TV, revenues declined 1.7% to 4.3 million and operating income was down 10.5% to 831K. Saga doesn’t provide quarterly guidance, but CEO Ed Christian did say in answer to an analyst’s question that he doesn’t expect 2008 to be a down year for the radio industry.