Salem: Q1 Performance ‘Exceeds’ Rest of Industry

Salem Communications says its Q1 performance “significantly exceeded that of the overall radio industry.” The company reported net broadcasting revenue of $47.8 million, up from $43.2 million for the same period a year ago. Operating income was $9 million for the quarter, compared with operating income of $7.8 million for the same period last year.
Net income for Q1 was $2.4 million, compared to net income of $1.2 million, for Q1 of 2004.
Total operating expenses were $41.3 million compared to $37.3 million for the same period a year ago.
Salem President/CEO Ed Atsinger said the quarter performance was driven by revenue growth of 25.5% from national advertising business as well as 15.7% same station revenue growth at the company’s Contemporary Christian Music radio stations.