Saga Communications 2024 Q4 Net Revenue Falls 1.3%
Saga Communications is reporting its operating results for the fourth quarter of 2024 and for the full year of 2024. The company says net revenue for Q4 was $28.8 million, a decline of 1.3% compared to the same period in 2023. Station operating expense increased 4.1% for the quarter to $24.3 million compared
to the same period last year. Saga reports net income of $1.3 million for the quarter compared to net income of $2.5 million for the fourth quarter last year. For the full year of 2024, net revenue was $110.3 million, a decrease of 2.2% from the full year 2023. Net income was $3.5 million for the full year of 2024 compared to $9.5 million for the full year of 2023.
compared to $1.1 million for the same quarter last year and station operating income (a non-GAAP financial measure) decreased 14.7% to $7.6 million. Saga reports a net income of $2.7 million for Q3 2023 compared to the net loss of $104,000 it reported a year ago. The company’s balance sheet reflects $41.7 million in cash and short-term investments as of September 30, 2023. Saga also announces that it is paying a quarterly dividend of $0.25 per share on November 3, 2023 to shareholders of record as of October 11, 2023. The aggregate amount of the quarterly dividend will be approximately $1.5 million.