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Salem Media Group’s net income keeps growing

By   /   Thursday, March 15th, 2018  /   Comments Off on Salem Media Group’s net income keeps growing

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Camarillo-based Salem Media Group reported on March 15 a big increase in net income for the quarter ended Dec. 31.

The company’s net income grew to $22.4 million, or 85 cents per diluted share, compared to $3 million, or 11 cents per diluted share, for the fourth quarter of 2016. Its total operating expenses dropped 2.8 percent to $53.9 million from $55.5 million.

Operating income increased 31 percent to $4.5 million, up from $3.5 million for the same period last year.

For all of 2017, the company’s revenue decreased 3.9 percent to $263.7 million from $274.3 million the year prior but net income for 2017 increased to $24.6 million, or 94 cents per diluted share, compared to $8.9 million, or 34 cents per diluted share, in 2016.

• Contact Robert Shutt at [email protected]

 

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