Earnings Labs

Beasley Broadcast Group, Inc. (BBGI)

Q1 2015 Earnings Call· Fri, May 8, 2015

$22.50

+0.13%

Key Takeaways · AI generated
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Same-Day

-1.39%

1 Week

-0.20%

1 Month

-0.99%

vs S&P

-0.67%

Transcript

Operator

Operator

Good day, and welcome to this Beasley Broadcast Group 2015 First 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, Cynthia. Good morning, and welcome to the Beasley Broadcast Group First 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 press release. I'd also remind listeners that following its completion, a replay of today's webcast can be accessed for 5 days on our website. As on our past 2 webcasts, I'll remind everyone that on December 1, 2014, we swapped 5 radio stations, including 2 in Philly and 3 in Miami, for a total of 14 CBS stations, including 7 in Charlotte, 6 in Tampa and 1 in Philly. As a result of the transaction, on a GAAP basis, we're required to report the 5 stations that CBS assumed ownership of under discontinued operations on the income statement despite having operated them in the first quarter of '14. As such, we again provided added disclosures in today's press release. So for the quarter, on a continuing operations basis, net revenue increased $11.3 million and SOI increased $3.1 million. This reflects revenue from Tampa and Charlotte for the quarter, which was not included in the first '14 -- first quarter of '14 results, and it excludes the stations we swapped with CBS. Now on a combined continuing and discontinued ops basis for the quarter, revenue was flat, station operating expenses increased $700,000 or about 4% and SOI declined $680,000 or 9.6%.…

Operator

Operator

This concludes today's conference call. We thank you for your participation.