Beasley Reports 4Q, Year-End Results

For the fourth quarter of 2001, consolidated net revenue for Beasley Broadcast Group increased by nearly 8 percent to $30.4 million from $28.3 million compared to the same period a year ago. Broadcast cash flow rose 4.6% to $9.8 million from $9.4 million.
Beasley, a large- and mid-size market radio broadcast company, reported a net loss of $3.5 million, or $0.15 per share, for the fourth quarter of 2001 compared to a net loss of $2 million, or $0.08 per share in the same period a year earlier.
“Fourth quarter results benefited from solid November and December bookings, with the retail and telecommunications categories proving very resilient and our Philadelphia cluster turning in a very positive 14% year-over-year gain during the period,” stated Chairman/CEO George Beasley.
Overall, the company reported a net loss of $21.8 million, or $0.90 per share in 2001 compared to a net loss of $29.6 million, or $1.26 per share, in 2000.