Operator
Operator
Good day, and welcome to the 2013 fourth quarter results conference call. Today's conference is being recorded. At this time, I would like to turn the call over to your host, Ms. Caroline Beasley. Ms. Beasley, you may begin.
Beasley Broadcast Group, Inc. (BBGI)
Q4 2013 Earnings Call· Thu, Jan 30, 2014
$22.50
+0.13%
Same-Day
-3.18%
1 Week
-3.18%
1 Month
-2.54%
vs S&P
-7.20%
Operator
Operator
Good day, and welcome to the 2013 fourth quarter results conference call. Today's conference is being recorded. At this time, I would like to turn the call over to your host, Ms. Caroline Beasley. Ms. Beasley, you may begin.
Caroline Beasley
Management
Thank you, and good morning. Welcome to the Beasley Broadcast Group fourth 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. My remarks this morning will primarily focus on the fourth quarter and full year results, our balance sheet and our markets. As noted in our third quarter webcast, we knew that fourth quarter revenue would be challenging, given the $1.2 million in political advertising received in 4Q '12. While we were not able to fully offset these political dollars, we saw improved advertising in December after cycling off the political comps in October and November. So for the quarter, actual net revenue decreased 0.5% and same-station net revenue decreased 2.6%. Excluding the benefit of approximately $1.2 million in political advertising in 4Q '12, 4Q '13 same-station net revenue rose approximately 2%. And for the full year of 2013, actual full year revenue rose 4.7%, while same-station revenue increased 1.9%. 4Q '13, same-station revenue results reflect declines in our Vegas and Miami clusters, primarily due to the political comps. On a consolidated same-station basis, local and national decreased 1.7% and 21% respectively, with the decline in national primarily attributable to approximately $1.1 million…