Beasley Broadcast Group 2016 Q1 Ahead of 2015

Company sees 13.2% change in net revenue
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Beasley Broadcast Group has revealed its numbers for the first quarter of 2016, which show a 13.2% increase in net revenue over the same period in 2015 from $24.3 million to $27.5 million. According to the radio broadcaster’s press release, a primary reason for the increase came from its Tampa-St. Petersburg, Fla., and Charlotte, N.C., market clusters.

In other areas, station operating income saw a 16% bump to $7.5 million during Q1 compared to 2015’s $6.4 million; though the company says that this was partially offset by an increase of $2.2 million in station operating expenses. Net income and net income per diluted share for 2016 Q1 ended at $1.8 million and $0.08; in 2015 it was $1.3 million and $0.03, respectively.

Caroline Beasley, who is serving as interim CEO while her father George Beasley is on a medical leave of absence, commented on the first quarter results: “While 2016 first quarter revenue included the cyclical return of political advertising, we generated organic revenue growth even without the political spending. In addition, we achieved our goal of our clusters, on a combined basis, outperforming the markets that report to Miller Kaplan for the full quarter and expect this trend to continue in 2016.”

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