Salem media group, inc. /de/ (SALM)
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
Total net revenue

64,633

64,116

64,680

60,469

67,188

65,528

66,272

63,795

-

65,433

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net broadcast revenue

-

-

-

-

-

-

-

-

-

-

49,251

47,804

52,248

51,052

49,971

48,745

52,134

49,451

49,060

46,539

49,950

48,246

49,129

46,769

52,257

46,015

47,025

43,247

51,416

45,895

46,372

43,957

45,802

44,793

45,406

42,730

43,507

45,471

Net digital media revenue

-

-

-

-

-

-

-

-

-

-

10,866

10,686

12,721

11,999

11,047

11,010

11,343

11,128

11,499

10,791

10,557

11,503

12,319

11,312

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Internet revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,390

9,906

9,716

-

-

-

-

-

-

-

-

-

-

Net publishing revenue

-

-

-

-

-

-

-

-

-

-

5,995

6,490

5,726

8,221

6,761

4,820

5,670

6,912

6,734

4,526

5,440

9,859

7,189

4,263

4,293

3,071

3,205

2,665

-

-

-

-

-

-

-

-

-

-

Total net revenue

-

-

-

-

-

-

-

-

-

-

66,112

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Internet revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,800

8,035

7,434

-

6,686

6,890

5,592

5,052

4,712

Net publishing revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,024

3,219

2,893

-

3,024

3,144

2,841

2,832

2,940

Total net revenue

-

-

-

-

-

-

-

-

-

-

-

64,980

70,695

71,272

67,779

64,575

69,147

67,491

67,293

61,856

65,947

69,608

68,637

62,344

62,694

58,476

60,136

55,628

60,550

56,719

57,626

54,284

57,060

54,503

55,440

51,163

51,391

53,123

Operating expenses:
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $547 and $574 for the three months ended June 30, 2017 and 2018, respectively, and $1,114 and $1,135 for the six months ended June 30, 2017 and 2018, respectively, paid to related parties)

-

-

-

-

-

-

-

-

-

-

35,931

35,836

36,828

37,434

35,871

36,150

36,177

35,538

35,187

33,917

35,643

34,402

35,815

33,346

38,599

30,847

30,844

29,567

36,225

30,628

30,519

29,142

29,428

29,198

29,054

27,802

27,940

28,984

Digital media operating expenses, exclusive of depreciation and amortization shown below

-

-

-

-

-

-

-

-

-

-

8,370

8,702

9,475

9,172

8,619

9,024

8,983

8,630

8,767

9,000

8,452

9,018

9,270

8,850

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Internet operating expenses exclusive of depreciation and amortization shown below

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,644

6,887

6,841

-

5,825

6,109

5,924

5,432

5,080

5,541

4,836

4,432

3,946

Publishing operating expenses, exclusive of depreciation and amortization shown below

-

-

-

-

-

-

-

-

-

-

5,668

6,351

6,258

8,020

6,983

4,948

6,842

6,966

6,469

4,497

6,076

8,252

6,809

5,006

4,504

3,301

3,452

3,023

4,388

2,980

3,000

2,971

2,934

2,890

2,771

2,880

2,962

2,785

Unallocated corporate expenses, exclusive of depreciation and amortization shown below (including $198 and $135 for the years ended December 31, 2018 and 2019, respectively, paid to related parties)

3,554

4,183

4,332

3,871

3,748

3,987

4,030

3,921

3,072

4,233

3,825

5,125

3,066

4,147

3,568

4,213

3,940

3,697

3,518

3,991

4,172

3,880

3,976

5,064

242

4,951

5,092

5,796

82

4,643

4,804

4,867

4,463

4,285

4,204

4,551

4,154

3,717

Depreciation

2,768

2,744

2,852

2,933

2,958

3,032

3,035

3,009

-

3,082

3,109

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization

1,070

1,147

1,124

1,296

1,634

1,604

1,476

1,478

-

1,135

1,143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

-

-

2,980

3,255

2,976

2,982

2,992

3,049

3,136

3,060

3,172

3,192

3,141

3,167

3,129

3,135

3,089

3,102

3,122

3,193

3,083

3,037

3,030

3,122

3,099

3,117

3,182

3,126

3,132

Amortization

-

-

-

-

-

-

-

-

-

-

-

1,142

1,398

1,341

1,189

1,143

1,350

1,330

1,315

1,329

1,529

1,530

1,529

1,608

738

695

688

693

679

494

542

589

616

633

683

519

587

489

Change in the estimated fair value of contingent earn-out consideration

-

-40

-

-

-

-

72

-

31

-12

-43

1

-231

-196

-134

-128

-923

-603

-307

118

-180

545

242

127

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of long-lived assets

-

-

-

-

-

-

-

-

-

-

-

-

-

0

700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of indefinite-lived long-term assets other than goodwill

-

1,915

-

-

-

-

-

-

0

0

0

19

7,041

0

0

0

-

0

0

-

-

-

-

-

-

-

345

-

-

-

-

-

-

-

-

-

-

-

Impairments based on the estimated fair value goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

438

-

-

-

-

-

-

-

-

-

-

-

Impairment of long-lived assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,608

-

-

-

-

-

-

-

Net (gain) loss on the disposition of assets

-1,114

-17,545

357

-4,024

-253

759

-5,154

-5

-4,315

-95

510

-5

-107

457

1,701

-150

-25

3

-30

-129

-37

7

-338

117

244

25

-1

-4

514

-587

-145

169

-190

-32

-150

4,525

-18

18

Total operating expenses

62,964

78,603

59,079

61,453

63,511

59,253

64,929

58,124

62,680

60,428

57,493

60,161

67,237

62,437

58,077

58,492

59,882

58,691

58,039

56,153

59,000

60,761

61,146

57,013

53,004

49,502

50,849

49,046

50,331

48,240

53,764

46,354

46,185

45,217

45,520

39,245

43,219

43,035

Operating income (loss)

1,669

-14,487

5,601

-984

3,677

6,275

1,343

5,671

4,531

5,005

8,619

4,819

3,458

8,835

9,702

6,083

9,265

8,800

9,254

5,703

6,947

8,847

7,491

5,331

9,690

8,974

9,287

6,582

10,219

8,479

3,862

7,930

10,875

9,286

9,920

11,918

8,172

10,088

Other income (expense):
Interest income

1

0

0

1

1

2

0

2

1

1

1

1

2

1

2

1

2

3

2

1

2

2

26

15

16

16

15

21

23

24

28

31

190

57

54

43

48

46

Interest expense

4,290

4,410

4,371

4,425

4,549

4,507

4,754

4,518

4,550

4,802

3,924

3,430

3,686

3,726

3,730

3,796

3,851

3,900

3,874

3,804

4,007

4,139

4,068

3,779

3,680

3,770

3,719

5,723

6,124

6,127

6,264

6,396

6,540

6,826

7,064

7,235

7,435

7,776

Change in the fair value of interest rate swap

-

-

-

-

-

-

-

-

0

0

0

357

1,610

856

-423

-1,758

1,213

-1,510

444

-1,420

-1,279

1,046

-1,373

-1,096

632

-1,033

4,007

-429

-

-

-

-

-

-

-

-

-

-

Gain on early retirement of long-term debt

1,244

0

0

426

-

-

234

-

0

0

-2,734

-41

-55

-18

-5

-9

0

0

0

-41

-365

-18

0

-8

-3

-16

-55

-27,721

-

-

-893

-

-

-305

-1,090

-

-

-

Loss on early retirement of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,050

Net miscellaneous income and (expenses)

144

0

18

1

2

1

-88

75

0

-80

0

0

-

7

-

0

193

1

0

7

13

572

14

66

3

4

5

6

8

60

4

7

-20

3

-12

-11

13

0

Net loss from operations before income taxes

-1,232

-18,897

1,248

-4,981

-455

1,771

-3,265

1,230

-18

124

1,962

1,706

1,423

5,955

5,546

521

8,179

3,394

5,826

446

1,311

6,310

2,090

529

6,658

4,175

9,540

-27,264

3,931

2,436

-3,263

1,572

3,731

2,215

1,808

4,715

798

1,308

Provision for income taxes

3,280

1,108

4,892

-5,303

2,605

564

-1,098

402

-22,376

170

690

646

-1,549

3,763

2,190

168

2,924

1,317

2,303

151

1,273

2,567

827

98

9,984

-1,159

-4,335

-8,682

1,921

-971

-1,484

687

2,705

526

723

2,156

455

610

Income (loss) from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,344

5,334

5,205

-18,582

2,010

3,407

-1,779

885

1,026

1,689

1,085

2,559

-

-

Loss from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11

-11

-4

-11

-1

-39

-13

-42

-580

-204

15

28

-

-

Net loss

-4,512

-20,005

-3,644

322

-3,060

1,207

-2,167

828

22,358

-46

1,272

1,060

2,972

2,192

3,356

353

5,255

2,077

3,523

295

38

3,743

1,263

431

5,333

5,323

5,201

-18,593

2,009

3,368

-1,792

843

446

1,485

1,100

2,587

343

698

Basic loss per share data:
Earnings (loss) per share from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.23

0.21

0.20

-0.75

0.08

0.13

-0.07

0.04

0.05

0.07

0.04

0.10

-

-

Earnings (loss) per share from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

-0.02

-0.01

0.00

0.00

-

-

Basic loss per share Class A and Class B common stock

-0.17

-0.75

-0.14

0.01

-0.12

0.05

-0.08

0.03

0.85

0.00

0.05

0.04

0.12

0.08

0.13

0.01

0.20

0.08

0.14

0.01

0.00

0.14

0.05

0.02

0.23

0.21

0.20

-0.75

0.09

0.13

-0.07

0.03

0.01

0.06

0.05

0.11

0.01

0.03

Diluted loss per share data:
Earnings (loss) per share from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.23

0.21

0.20

-0.75

0.08

0.13

-0.07

0.04

0.05

0.07

0.04

0.10

-

-

Earnings (loss) from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

-0.02

-0.01

0.00

0.00

-

-

Diluted loss per share Class A and Class B common stock

-0.17

-0.75

-0.14

0.01

-0.12

0.05

-0.08

0.03

0.85

0.00

0.05

0.04

0.12

0.08

0.13

0.01

0.20

0.08

0.14

0.01

0.00

0.14

0.05

0.02

0.23

0.21

0.20

-0.75

0.09

0.13

-0.07

0.03

0.03

0.06

0.04

0.10

0.01

0.03

Distributions per share Class A and Class B common stock

-

-

-

-

-

-

-

-

0.05

0.07

0.07

0.07

0.06

0.07

0.13

0.00

0.06

0.07

0.07

0.06

0.06

0.06

0.06

0.06

0.11

0.00

0.05

0.05

0.03

0.03

0.04

0.04

-

-

-

-

-

-

Basic weighted average Class A and Class B shares outstanding

26,683

26,616

26,525

26,186

26,186

26,183

26,177

26,171

26,166

26,144

26,062

25,901

25,826

25,815

25,551

25,485

25,471

25,459

25,429

25,346

25,573

25,536

25,172

25,064

25,255

25,126

24,737

24,632

24,726

24,663

24,356

24,564

24,554

24,546

24,279

24,520

24,357

23,819

Diluted weighted average Class A and Class B shares outstanding

26,676

26,616

26,525

26,193

25,924

26,312

26,177

26,304

26,713

26,144

26,593

26,290

26,101

26,183

26,052

25,802

25,893

25,907

25,829

25,921

26,226

26,265

25,950

25,881

23,573

25,921

25,624

24,632

25,479

25,358

24,356

24,753

24,737

24,746

24,491

24,759

24,822

24,542

Broadcast [Member]
Total net revenue

50,485

47,679

49,082

46,093

51,077

48,812

50,563

48,050

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

37,973

37,310

37,707

36,449

38,463

37,158

37,243

35,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Digital Media [Member]
Total net revenue

9,816

9,149

9,960

10,240

11,544

10,397

10,260

10,394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

7,813

7,282

7,648

8,058

8,504

8,021

8,397

8,374

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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Publishing [Member]
Total net revenue

4,332

7,288

5,638

4,136

4,567

6,319

5,449

5,351

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-

-

-

-

-

-

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-

-

-

-

-

-

-

-

-

-

-

-

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Total operating expenses

5,236

6,517

5,773

4,822

5,077

6,210

5,522

5,587

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