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Salem profits soar on higher Internet revenue

By   /   Tuesday, November 5th, 2013  /   Comments Off on Salem profits soar on higher Internet revenue

Christian and conservative media operator Salem Communications Corp.’s third-quarter profits jumped 58 percent to $5.3 million, or 21 cents per share, as revenue increased 3.1 percent to $58.5 million. The Camarillo-based firm’s revenue continued to shift to the Web, with third-quarter Internet revenue increasing 20.4 percent to $9.4 million.

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Christian and conservative media operator Salem Communications Corp.’s third-quarter profits jumped 58 percent to $5.3 million, or 21 cents per share, as revenue increased 3.1 percent to $58.5 million.

The Camarillo-based firm’s revenue continued to shift to the Web, with third-quarter Internet revenue increasing 20.4 percent to $9.4 million.

In contrast, Salem’s broadcast revenue flatlined at $46 million and station operating income fell 0.6 percent to $15.2 million. Salem’s publishing revenue increased 1.6 percent to $3.1 million.

Salem, traded on the Nasdaq stock exchange, serves up political commentary on websites such as HotAir.com and on dozens of talk-radio stations across the country.

[wikichart align=”center” ticker=”SALM” showannotations=”true” livequote=”true” rollingdate=”6 months” width=”570″ height=”365″]
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