Beasley broadcast group inc (BBGI)
Income statement / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Net revenue

72,093

66,114

65,658

57,687

75,568

65,147

61,625

55,153

-

58,902

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net revenue

-

-

-

-

-

-

-

-

-

-

61,013

53,740

53,703

27,729

27,777

27,454

28,407

26,264

27,024

24,250

18,562

13,047

14,140

12,955

-9,297

13,726

26,855

24,812

27,436

24,714

24,790

23,298

25,157

23,975

25,514

23,052

24,206

24,933

Operating expenses:
Station operating expenses

-

49,443

-

-

-

50,351

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Station operating expenses (including stock-based compensation of $221,046 in 2018 and $85,002 in 2019 and excluding depreciation and amortization shown separately below)

-

-

47,759

47,451

-

-

44,967

45,512

43,477

42,481

44,912

43,949

37,470

19,519

19,729

19,986

19,401

19,651

18,741

17,813

12,261

9,421

9,060

9,607

-5,479

9,256

16,773

16,703

16,647

15,740

14,634

15,505

15,717

15,753

16,417

15,431

15,794

16,444

Corporate expenses (including stock-based compensation of $1,679,654 in 2018 and $1,759,061 in 2019)

5,496

5,326

5,423

4,962

4,901

3,665

4,440

3,282

4,087

4,026

4,488

3,230

2,963

2,394

2,443

2,500

1,934

2,307

2,302

2,439

2,110

2,194

2,342

2,275

2,243

2,157

2,129

2,094

2,184

1,940

1,940

2,040

1,939

2,008

2,042

2,056

1,830

2,012

Transaction expenses

407

65

55

241

-

110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transaction expenses

-

-

-

-

-

-

-

-

217

0

295

450

-

1,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Merger expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

46

303

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating expenses

-

-

-

-

-

-

-

-

-96

-290

-252

-328

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

185

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

1,970

1,867

1,742

1,768

1,799

1,693

1,562

1,546

1,558

1,453

1,619

1,502

3,746

816

830

839

1,012

863

839

1,118

715

492

477

466

-

408

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-

-

-

-

0

0

0

-4,415

2,387

2,524

-2,391

7,533

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on dispositions

17,111

0

0

3,545

-

-

-

-

0

0

3,977

-269

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Termination of postretirement benefits plan

-

-

-

-

-

-

-

-

-

-

-1,812

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,520

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

527

564

533

532

516

514

583

573

616

619

654

671

Total operating expenses

60,873

56,702

54,981

50,877

61,622

55,820

50,969

54,757

35,246

45,727

48,170

42,197

3,813

23,931

23,004

23,326

22,348

26,344

21,930

21,675

16,807

12,108

11,880

12,349

-3,080

12,007

19,430

19,361

19,365

18,214

17,091

18,059

18,239

18,334

19,075

18,108

18,279

19,128

Operating income

11,219

9,411

10,677

6,809

13,945

9,326

10,655

395

23,276

13,174

12,842

11,542

49,890

3,797

4,773

4,128

6,058

-79

5,093

2,575

1,754

938

2,260

606

-6,216

1,719

7,425

5,450

8,071

6,500

7,699

5,238

6,917

5,640

6,438

4,944

5,927

5,804

Non-operating income (expense):
Interest expense

4,488

4,406

4,547

4,590

4,501

4,073

3,805

3,625

4,133

4,717

4,752

4,827

3,855

855

898

988

1,014

1,064

941

948

970

1,080

1,100

1,223

1,370

1,337

2,326

2,047

2,083

1,792

1,265

1,346

1,390

1,753

1,847

2,366

2,520

2,516

Loss on modification of long-term debt

-

-

-

-

-

-281

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-23

-

-

-

-1,260

-

-

-2,608

-

-

-

-

-

-

-

-

Other income (expense), net

34

-86

38

-232

425

-761

27

448

8

46

39

356

18

316

269

-39

389

1

18

471

24

261

17

23

-23

21

36

46

12

-176

-89

74

76

53

113

0

66

143

Income before income taxes

6,765

4,919

6,168

1,986

9,869

4,210

6,877

-2,780

15,198

8,502

8,130

7,071

45,283

3,258

4,143

3,100

4,874

-1,141

4,171

2,098

808

112

1,154

-594

-

403

-

-

-

-

-

-

-

-

-

-

-

-

Income before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,874

3,448

6,044

1,922

6,343

3,967

5,603

3,939

4,704

2,578

3,472

3,431

Income tax expense

2,331

1,733

1,899

632

7,777

1,578

1,958

380

-54,470

2,432

4,224

-414

3,780

1,564

1,674

1,279

1,604

-403

1,639

800

-1,031

119

504

921

-2,866

191

1,516

1,028

2,438

766

2,482

1,559

2,214

1,591

1,891

1,028

1,386

1,389

Income before equity in earnings of unconsolidated affiliates

-

3,185

-

-

-

2,631

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

3,043

-

-

-

2,631

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,839

-7

650

-1,515

-

211

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations (net of income taxes)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,997

2,466

2,371

2,198

-

2,975

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

4,269

1,353

-

-

4,918

-3,161

69,668

6,070

3,905

7,486

41,503

1,694

2,469

1,820

3,269

-737

2,532

1,298

33,836

2,458

3,021

682

3,580

3,186

2,357

2,420

3,605

1,156

3,861

2,407

3,389

2,348

2,812

1,549

2,085

2,042

Earnings attributable to noncontrolling interest

-

141

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other comprehensive loss:
Reclassification of other comprehensive income due to termination of pension plan (net of income tax benefit of $261,358)

-

-

-

-

-0

0

0

-731

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized losses on securities (net of income tax benefit of $21,527)

-

-

-

-

-

-

-

-

-6

-1

-10

-14

14

-4

-14

-35

-7

-6

36

29

-8

22

4

-21

3

14

5

-13

4

5

-13

0

-24

-28

-86

21

-

-

Unrecognized actuarial gains on postretirement plans (net of income tax expense of $142,435 in 2018 and income tax benefit of $188,505 in 2019)

-

-

-

-

-

-

-

-

-

-

-62

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of derivative financial instruments (net of income tax benefit of $14,053 in 2011)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

11

-

-

-

Unrealized loss on derivative financial instruments reclassified to interest expense (net of income tax expense of $614,408 in 2011)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

247

248

-

-

-

Change in fair value of derivative financial instruments (net of income tax benefit of $7,104 in 2011)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11

-

-

Unrealized loss on derivative financial instruments reclassified to interest expense (net of income tax expense of $301,998 in 2011)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-479

-

-

Other comprehensive income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-24

219

150

489

-

-

Comprehensive income

4,259

3,043

4,269

1,353

2,490

2,631

4,918

-3,892

70,903

6,069

3,832

7,472

40,761

1,689

2,455

1,785

3,262

-744

2,568

1,328

33,828

2,481

3,025

661

3,584

3,201

2,363

2,406

3,609

1,162

3,847

2,408

3,364

2,568

2,963

2,039

-

-

Net income attributable to BBGI stockholders per Class A and B common share:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.03

-0.07

-

0.01

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.11

0.10

0.10

-

0.13

-

-

-

-

-

-

-

-

-

-

-

-

Basic

0.18

0.11

0.15

0.05

0.07

0.10

0.18

-0.11

-

0.22

0.14

0.27

-

0.07

0.11

0.08

-

-0.03

0.11

0.06

-

0.11

0.13

0.03

-

0.14

0.10

0.11

-

0.05

0.17

0.11

-

0.10

0.12

0.07

0.09

0.09

Dividends declared per common share

0.05

0.05

0.05

0.05

0.05

0.05

0.05

0.05

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

0.04

-

-

-

0.00

-

-

-

-

-

-

-

-

-

-

Weighted average shares outstanding:
Basic

27,803

27,781

27,776

27,559

27,362

27,351

27,344

27,717

27,717

27,705

27,701

27,663

26,117

23,025

23,023

22,983

22,926

22,921

22,918

22,880

22,825

22,820

22,818

22,782

22,745

22,743

22,742

22,711

22,677

22,675

22,674

22,641

22,605

22,602

22,601

22,564

22,528

22,482

Diluted

27,767

27,882

27,838

27,622

27,394

27,500

27,523

27,717

27,622

27,907

27,874

27,766

26,486

23,176

23,119

23,020

23,228

22,999

22,967

22,906

23,148

22,908

22,879

22,843

22,998

22,828

22,798

22,726

22,858

22,743

22,733

22,661

22,820

22,667

22,651

22,603

22,593

22,533