Salem Financials Improve in Q3

Christian broadcasting, Internet and book publishing company Salem Communications Inc. posted a profit in the third quarter, a marked improvement from the same period a year ago. The Camarillo-based company reported net income of $343,000, or $0.01 per diluted share, on revenues $51.4 million for the quarter ending Sept. 30. For the same period in 2009, Salem reported a net loss of $4.6 million, or $0.19 per diluted share, on revenues of $49.2 million. The third quarter results from 2009 include charges reflecting the reclassification of two radio stations. For the fourth quarter, Salem projects an increase of 3 percent to 5 percent over the $50.8 million in revenues from the fourth quarter of 2009. Mark R. Madler