Earnings Labs

Beasley Broadcast Group, Inc. (BBGI)

Q2 2013 Earnings Call· Fri, Jul 26, 2013

$22.31

-0.04%

Key Takeaways · AI generated
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Same-Day

-2.52%

1 Week

-9.95%

1 Month

-18.76%

vs S&P

-15.35%

Transcript

Operator

Operator

Good day, everyone, and welcome to the Beasley Broadcast Group 2013 Second Quarter Results Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Ms. Caroline Beasley. Please go ahead, ma'am.

Caroline Beasley

Management

Thank you, Lisa, and good morning. Welcome to the Beasley Broadcast Group Second Quarter Webcast. Before beginning, I'd like to emphasize that this webcast will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors section of our most recent Form 10-K. Today’s webcast will also contain a discussion of certain non-GAAP financial measures within the meaning of Item 10 of Reg S-K. A reconciliation of these non-GAAP measures, with their most directly comparable financial measures calculated and presented in accordance with GAAP, can be found in this morning’s news announcement and on our website. I'd also remind listeners that following its completion, a replay of today's webcast can be accessed for 5 days on our website, bbgi.com. You can also find a copy of the today's press release on the Investors or Press Room sections of the site. My remarks this morning will primarily focus on the second quarter, our balance sheet and our markets. So this was a solid quarter of actual and same-station revenue growth for our company. But before delving into detail, I want to remind everyone that operating expenses in last year's second quarter were reduced by $800,000 to account for a one-time music license fee settlement with BMI. So please keep this in mind when comparing Q2 '13 to Q2 '12 SOI operating income and net income. Also, even excluding the BMI benefit, we did see a rise in this year's second quarter operating expenses. I'll detail the other expense items in a few minutes, as well as the impact of the charge for the loss on extinguishment of debt and the prepayment fee. So actual net revenue for the quarter increased 8.3% and same-station net revenue increased 4.2%. Same-station net revenue excludes…