Beasley reported $0.08 earnings per share (EPS) for the fourth quarter, and revenue of $18.60 million. For the year, $0.04 revenue per share and $58.70 million in revenue. Shares are up over 2 percent on Friday, after Beasley beat estimates. Beasley picked up 14 stations in an exchange with CBS at the end of last year, considerably increasing the company's revenue base. A major factor for Beasley in the transaction was increasing its market-by-market consolidation level. This opened the opportunity to leverage operational efficiencies within the company. As it stands now, seven out of the 12 Beasley markets are now at the cap for FM ownership.
Beasley saw good gain in quarter four net revenue, rising nearly fifteen percent to $28.9 million. Radio station operating income was only $1.8 million, that compared to $2.8 million in Q4 2013. Beasley incurred $1.7 million in transaction-related expense. Pro forma, the results weren't as good. Net revenue was down 4.3 percent and SOI was down 8 percent.
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