Last $7.05 USD
Change Today -0.15 / -2.08%
Volume 30.9K
SALM On Other Exchanges
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NASDAQ GM
As of 8:10 PM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

salem communications -cl a (SALM) Key Developments

Salem Names Felix Perez as Vice President and General Manager of Miami Market

Salem Communications Corporation announced the appointment of Felix Perez as VP/GM of its Miami cluster. Felix comes to Salem with a long and successful history in the radio industry that spans nearly three decades including a particular expertise in Spanish radio. Felix's resume includes ten years with Univision, and in all, nearly 23 years in Spanish media. Felix most recently was the VP/GM at Univision in New York.

Salem Communications Corp. Presents at Singular Research 9th Annual Best of the Uncovereds Conference, Sep-22-2014 03:00 PM

Salem Communications Corp. Presents at Singular Research 9th Annual Best of the Uncovereds Conference, Sep-22-2014 03:00 PM. Venue: Luxe Sunset Bel Air Hotel, 11461 Sunset Boulevard, Los Angeles, CA 90049, United States.

Salem Communications Increases Quarterly Cash Distribution, Payable on September 30, 2014

Salem Communications Corporation announced that its Board of Directors has increased its quarterly cash distribution from $0.0600 per share to $0.0625 per share. The cash distribution will be paid on September 30, 2014 to all Class A and Class B common stockholders of record as of September 16, 2014.

Bible Gateway Renews Exclusive Sales Agreement with Salem Web Network

Salem Communications Corporation announced Bible Gateway has renewed its agreement with Salem Web Network (SWN) to serve as its exclusive sales agent for BibleGateway.com. The combination of BibleGateway.com with Salem Web Network's portfolio of Christian websites results in a combined reach of over 50 million unique visitors each month and provides a tremendous market platform for ministries and advertisers to reach the Christian audience.

Salem Communications Corporation Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Impairment of Goodwill for the Second Quarter Ended June 30, 2014

Salem Communications Corporation reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2014. Total revenue increased 14.1% to $68.6 million from $60.1 million; operating income decreased 19.3% to $7.5 million from $9.3 million; net income decreased to $1.3 million, or $0.05 net income per diluted share, from $5.2 million, or $0.20 net income per diluted share, in the prior year; EBITDA decreased 6.3% to $12.2 million from $13.0 million; and adjusted EBITDA decreased 7.8% to $13.1 million from $14.2 million. Net operating income from continuing operations was $9.287 million against $7.491 million a year ago. Income from continuing operations before income taxes was $9.540 million against $2.090 million a year ago. Income from continuing operations was $5.205 million against $1.263 million a year ago. Capital expenditures were $2.889 million against $3.107 million a year ago. For the six months period, total revenue increased 13.1% to $131.0 million from $115.8 million; operating income decreased 19.2% to $12.8 million from $15.9 million; net income increased to $1.7 million, or $0.07 net income per diluted share, from a $13.4 million loss, or $0.54 net loss per share, in the prior year; EBITDA increased to $22.3 million from a loss of $4.3 million; and adjusted EBITDA decreased 6.2% to $23.9 from $25.4 million. Net operating income from continuing operations was $15.869 million against $12.822 million a year ago. Loss from continuing operations before income taxes was $17.724 million against income of $2.619 million a year ago. Loss from continuing operations was $13.377 million against income of $1.694 million a year ago. Capital expenditures were $5.232 million against $6.117 million a year ago. The company also announced impairment of goodwill of $438,000 for the second quarter ended June 30, 2014.

 

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Valuation SALM Industry Range
Price/Earnings 14.9x
Price/Sales 0.7x
Price/Book 0.9x
Price/Cash Flow 6.2x
TEV/Sales NM Not Meaningful
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