Saga Communications Inc. reports third quarter 2021 results

Saga Communications Inc. announced its third quarter results for the quarter ended September 20, 2021. Saga Communications is listed under the symbol “SGA”.

The company reported total revenue of $ 28 million in this quarter, up from $ 24 million in the same quarter. The station’s operating expenses are $ 21 million, up $ 2.1 million from the last previous quarter, which was about $ 19 million.

The station’s operating profit is $ 8.5 million for this quarter compared to the last previous quarter which was approximately $ 6 million. Operating profit was $ 4.6 million, which was only $ 247,000 last quarter. As a result, net income climbs to $ 3.4 million and converts to profit, which showed a loss of $ 950,000 in the last third quarter of 2020.

However, earnings per share fell from minus 16 cents per share to 58 cents per share for this quarter.

The Company paid a quarterly dividend of $ 0.16 per share on 22 october, 2021. The total amount of the quarterly dividend was approximately $ 960,000. The Company has now paid $ 73 million in dividends to shareholders since the first exceptional dividend was paid in 2012.

In the third quarter, the company has approximately $ 62 million in cash and approximately $ 50 million in cash as at November 1, 2021. In addition, the company has written off its long-term debt of $ 10,000 as of November 1, 2021. during this quarter. The company uses its cash flow for its capital expenditures, which were about $ 500,000 last quarter compared to this quarter, about $ 3.9 million more than triple.

About the company

Saga Communications is a broadcasting company which owns and operates radio stations. Their business is too devoted to acquiring, developing and operating radio stations. Saga currently operates and owns broadcast properties in 27 markets, including 79 FM radio stations and 35 AM radio stations.

Saga’s strategy is to operate the most popular radio stations in mid-sized markets, defined as markets ranked (by market revenues) from 20 to 200. Saga radio stations use a myriad of formats Programming including Active Rock, Adult Album Alternative, Adult Contemporary, Country, Classic Country, Classic Hits, Classic Rock, Contemporary Hit Radio, News / Conversations, Oldies and Urban Contemporary.

The saga began operating in 1986 and became a publicly traded company in December 1992. The stock trades on the NASDAQ under the symbol “SG

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