3-14-2012
No big surprises from Ed Christian's company. His Q4 numbers are similar to other numbers being reported by public radio companies. The main difference is the Saga stock price remains strong, while most other radio stocks have remained weak. Saga revenue for final three months of 2011 dropped to $32.9 Million from $34.1 Million in 2010. Cash flow for Q4 increased 3.6% to $7.4 million. For the year, Saga revenue was flat while cash flow increased nearly 9% to $22.9 million.
The Saga balance sheet shows $7.0 million in cash as of December 31, 2011 and outstanding bank debt of $69.1 million which is below the $96.1 million which was outstanding on December 31, 2010. This is a trailing 12 month leverage ratio calculated as a multiple of EBITDA of 2.0 times.
Saga owns or operates 61 FM's, 30 AM's, 3 state radio networks, 2 farm radio networks in 26 markets.
Ed Christian was named the Radio Ink
Radio Executive of the year in 2011.
You can read his cover story interview HERE
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