Caroline Beasley - EVP, Secretary, Treasurer and CFO

Good day, and welcome to the Beasley Broadcast Group 2016 First Quarter webcast call. Today's conference is being recorded. At this time, I would like to turn the conference over to Caroline Beasley. Please go ahead.

Thank you, Anthony and good morning. 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 risk 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 Web site. I'd also remind listeners that following its completion, a replay of today's webcast can be accessed for five days on our Web site. So I'm pleased to report that we had a very solid quarter. And this is the first quarter since Q3 ’14 where we are not reporting discontinued ops and pro forma results and have actual results that represent the same stations operated in the first quarter of both ’15 and ’16. So for the quarter, revenue increased $3.2 million, or 13.2% and SOI increased $1 million, or 16%. The revenue increase was primarily generated from our Tampa and Charlotte clusters where we've been actively addressing operations since the completion of the asset exchange with CBS in 2014. Of the $3.2 million increase in first quarter revenue, approximately $700,000 was from political spending in our markets with Charlotte, Tampa, and Vegas seeing the majority of this amount. But even absent the political contribution, we drove nice organic revenue growth during the quarter. Also, I'm pleased to report that we outperformed our markets in terms of revenue growth. According to Miller Kaplan, our clusters increased approximately 13.9% compared with the overall markets,…

That does conclude today's conference. Thank you for your participation. End of Q&A: