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Beasley Revises Q3 Outlook

Beasley Revises Q3 Outlook

Beasley Broadcast Group ha revised its financial outlook for the third quarter that ended Sept. 30, 2001.
Due to several days of commercial free programming to cover news
of the terrorist attacks, as well as subsequently canceled advertising contracts during the remainder of the month, Beasley anticipates that third quarter revenues could be off as much as 5% from its previously stated guidance of $29.5 million. As a result of reduced operating leverage, broadcast cash flow could be off as much as 10% than the prior
guidance of $7.9 million.
“Some of the canceled advertising was subsequently rescheduled, though not enough to offset the impact of this event,” said Chairman/CEO George Beasley.
The company will issue guidance for the fourth quarter of 2001 on Monday, Nov. 5.