7-24-14
Another disappointing revenue quarter from a publicly traded radio company. Beasley Broadcasting, which owns 44 stations in 11 large-and mid-size markets generated $1.0 million less in the second quarter of 2014 than it did in 2013. The company blamed the decrease on lower advertising revenue in its Philadelphia, Wilmington and Greenville-New Bern-Jacksonville markets. Beasley did reduce operating expenses by 2.3% ($400,000). Operating income for the quarter was down 12.1% while net income increase 28.1% to $3 million.
