Saga Communications reported net income of $4.734 million for second quarter 2019, a 13.5% uptick over $4.171 million last year. Net revenue was flat at $32.2 million. On a same station basis for the period ending June 30, the company’s operating income increased $383,000 to $6.4 million; while same station net revenue dipped 3.5% in the quarter to $31.1 million from $32.2 million.
Other financial results issued Aug. 6, ahead of Saga’s conference call with investors mid-morning Tuesday, include a $261,000 decrease in station operating expenses to $22.9 million.
Net income for the six-month period ending June 30 rose 7%, to $6.1 million from $5.7 million year-over-year; while net revenue decreased $236,000 to $60 million. On a same station basis, operating income was flat for the first six months of 2019, at $8.3 million. Net revenue was $58.0 million compared to $60.2 million last year.
Saga owns and operates broadcast properties in 27 markets, including 79 FM radio stations, 34 AM radio stations and 77 translators.
Look for more color from Saga’s Q2 results in Wednesday morning’s Inside Radio.