Tag: health care costs

First quarter 2023 operating results for Saga Communications reveal net revenue of $25.3 million, an increase of 1.3% over the same period in 2022. Net income fell from $1.2 million in Q1 of 2022 to $920,000 in the first quarter of this year. The company says, “Station operating expense increased $1.1 million for the quarter to $21.7 million compared to the same period last year. A significant part of the increase in station operating expense for the quarter was due to a $272 thousand increase in our self-insured health care costs and a $446 thousand increase in employee compensation, including payroll taxes at the station level. After a number of years of holding the company’s compensation expenses flat, we decided that adjustments in our employee compensation were warranted in consideration of the economic times and inflationary environment.”