Salem Media Q4 2022 net loss $2.2M; revenue $68.8M down 0.5%; impairments weigh

SALEM MEDIA GROUP, INC. /DE/

Net loss per diluted share $0.08 vs net income $0.61 in Q4 2021; operating income down 92% to $1.6M.
Adjusted EBITDA fell 33% to $7.3M; broadcast SOI down 17.4%; digital revenue down 10.3%.
Full-year net loss $3.2M vs net income $41.5M; $14M impairment charge on broadcast licenses.
Balance sheet: $114.7M 7.125% notes due 2028, $39M 6.75% notes due 2024, $9M ABL drawn.
Q1 2023 outlook: total revenue flat to -2% YoY; Recurring OpEx up 7-10%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SALEM MEDIA GROUP, INC. /DE/ reported the quarter ended December 31, 2022 results: revenue $68.8 million, net income net loss of $2.2 million, EPS $0.08 net loss per share.

Period: the quarter ended December 31, 2022
Revenue: $68.8 million
Net income: net loss of $2.2 million
EPS: $0.08 net loss per share
Result: reported results

Exact text from the filing

Salem Media Group, Inc. (Nasdaq: SALM) released its results for the three and twelve months ended December 31, 2022. Fourth Quarter 2022 Results For the quarter ended December 31, 2022 compared to the quarter ended December 31, 2021: Consolidated • Total revenue decreased 0.5% to $68.8 million from $69.1 million

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Source: SEC EDGAR

accession 0001193125-23-064615

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