Earnings Labs

Beasley Broadcast Group, Inc. (BBGI)

Q3 2013 Earnings Call· Fri, Oct 25, 2013

$22.50

+0.13%

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Same-Day

+0.11%

1 Week

-5.74%

1 Month

-0.56%

vs S&P

-3.25%

Transcript

Caroline Beasley

Management

Good morning, and welcome to the Beasley Broadcast Group Third Quarter 2013 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 today's press release on the Investors or Press Room sections of this site. My remarks this morning will primarily focus on the third quarter, our balance sheet and our markets. So to begin, this was a solid quarter of actual and same-station revenue and SOI growth for the company, particularly considering that we generated approximately $400,000 in total political revenue in Q3 last year. And I'm also pleased to report that during the quarter, we closed on the acquisition of KVGS in Las Vegas, a station that we've been operating under a management agreement since June of 2010. So for the quarter, actual net revenue increased 5%. Same-station net revenue increased 2.7%. And excluding the benefit of approximately $400,000 in political advertising in third quarter of 2012, our same-station net revenue rose approximately 4%. Our third quarter same-station revenue growth primarily reflects increases at our Philly, Miami and Augusta clusters. On a consolidated same-station basis, local and digital revenue increased approximately 1.5% and 46%, respectively. These…