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Thursday, Mar 28, 2024

Salem Income Up In Q2

Net income jumped by 20 percent in the second quarter for Christian media company Salem Communications Corp. when compared with the prior year. The Camarillo-based broadcaster, internet and publishing company had a drop in broadcasting revenues for the quarter while revenues from the non-broadcasting businesses went up. For the quarter ending June 30, the company reported a net income of $3.5 million, or $0.15 per diluted share, on revenues of $57.5 million. For the same period a year ago, the company had a net income of $2.9 million, or $0.12 per diluted share, on revenues of 58.8 million. For the third quarter, Salem projects a drop in revenue in the low-single digit range over third quarter 2007 total revenue of $56.9 million. Shares in Salem closed down at $1.65.

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