Saga Communications, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 09, 2023 at 02:06 pm
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Saga Communications, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 30.13 million compared to USD 29.15 million a year ago. Net income was USD 4.28 million compared to USD 3.69 million a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to USD 0.6 a year ago. Diluted earnings per share from continuing operations was USD 0.7 compared to USD 0.6 a year ago.
For the full year, the company reported sales was USD 114.89 million compared to USD 108.34 million a year ago. Net income was USD 9.2 million compared to USD 11.16 million a year ago. Basic earnings per share from continuing operations was USD 1.52 compared to USD 1.85 a year ago. Diluted earnings per share from continuing operations was USD 1.52 compared to USD 1.85 a year ago.
Saga Communications, Inc. is a media company engaged in acquiring, developing, and operating broadcast properties with a focus on opportunities complimentary to its core radio business, including digital, e-commerce and non-traditional revenue initiatives. The Company owns or operates broadcast properties in about 27 markets, including 79 frequency modulation (FM), 31 amplitude modulation (AM radio stations and 78 metro signals. The radio stations that it owns and/or operates employ a variety of programming formats, including Classic Hits, Country, Classic Country, Hot/Soft/Urban Adult Contemporary, Oldies, Classic Rock, Rock, and News/Talk. It operates in markets, including Asheville, Bellingham, Brattleboro, Bucyrus, Champaign, Charleston, Charlottesville, Clarksville, Columbus, Des Moines, Harrisonburg, Hilton Head Island, Jonesboro, Manchester, and Milwaukee, among others.