Enrapturing Stock: Salem Media Group, Inc. (NASDAQ: SALM)

On 20 Jan 2020, Salem Media Group, Inc. (NASDAQ: SALM) stock observed trading -54.49% off 52-week high price. On the other end, the stock has been noted 9.90% away from low price over the last 52-weeks. The stock disclosed a move of -0.48% away from 50 day moving average and -19.06% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.55% off 20-day moving average. It has market cap of $39.9M and dividend yield of 14.83%.

Salem Media Group, Inc. (SALM) released its results for the three and nine months ended September 30, 2019.

Third Quarter 2019 Results

For the quarter ended September 30, 2019 contrast to the quarter ended September 30, 2018:

Consolidated

Total revenue reduced 2.2% to $64.1M from $65.5M;

Total operating expenses increased 32.7% to $78.6M from $59.3M;

Operating expenses, not including gains or losses on the disposition of assets, stock-based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation expense and amortization expense (1) reduced 0.1% to $55.1M from $55.2M;

The company had an operating loss of $14.5M contrast to operating income of $6.3M;

The company had a net loss of $20.0M, or $0.75 net loss per share, influenced by a $17.5M loss on the disposition of assets and a $1.9M impairment of indefinite-lived long-term assets other than goodwill, contrast to net income of $1.2M, or $0.05 net income per diluted share;

EBITDA (1) was a negative $10.6M contrast to a positive $10.9M;

Adjusted EBITDA (1) reduced 13.0% to $9.0M from $10.3M; and

Net cash used by operating activities reduced 33.7% to $6.7M from $10.1M.

Broadcast

Net broadcast revenue reduced 2.3% to $47.7M from $48.8M;

Station Operating Income (“SOI”) (1) reduced 11.0% to $10.4M from $11.7M;

Same Station (1) net broadcast revenue reduced 1.4% to $46.5M from $47.2M; and

Same Station SOI (1) reduced 11.4% to $10.6M from $12.0M.

Digital Media

Digital media revenue reduced 12.0% to $9.1M from $10.4M; and

Digital Media Operating Income (1) reduced 21.4% to $1.9M from $2.4M.

Publishing

Publishing revenue increased 15.3% to $7.3M from $6.3M; and

Publishing Operating Income (1) increased to $0.8M from $0.1M.

Balance Sheet

As of September 30, 2019, the company had $231.9M outstanding on the 6.75% senior secured notes due 2024 (the “Notes”) and $18.1M outstanding on the Asset Based Revolving Credit Facility (“ABL Facility”).

The USA based company Salem Media Group, Inc. moved with change of 0.25% to $1.48 with the total traded volume of 12077 shares in recent session versus to an average volume of 68.96K. SALM’s shares are at -4.89% for the quarter and driving a -42.27% return over the course of the past year and is now at 3.03% since this point in 2018.

 

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