April 16, 2014 12:42 PM ET

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Company Overview of Beasley Broadcast Group Inc.

Company Overview

Beasley Broadcast Group, Inc., a radio broadcasting company, is engaged in operating radio stations in the United States. The company owns and operates 44 radio stations in various markets, including Atlanta and Augusta in Georgia; Boston, Massachusetts; Fayetteville and Greenville-New Bern-Jacksonville in North Carolina; Fort Myers-Naples, Miami-Fort Lauderdale, and West Palm Beach-Boca Raton in Florida; Las Vegas, Nevada; Philadelphia, Pennsylvania; and Wilmington, Delaware. It also operates one radio station in the expanded AM band in Augusta, Georgia. Beasley Broadcast Group, Inc. was founded in 1961 and is based in Naples, Florida.

3033 Riviera Drive

Suite 200

Naples, FL 34103

United States

Founded in 1961

417 Employees

Phone:

239-263-5000

Fax:

239-263-8191

Key Executives for Beasley Broadcast Group Inc.

Founder
Age: 80
Total Annual Compensation: $688.3K
President
Age: 55
Total Annual Compensation: $447.7K
Chief Financial Officer
Age: 50
Total Annual Compensation: $429.4K
Compensation as of Fiscal Year 2012.

Beasley Broadcast Group Inc. Key Developments

Beasley Broadcast Group Inc. Declares Quarterly Cash Dividend, Payable on April 10, 2014

Beasley Broadcast Group Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.045 per share of its Class A and Class B common stock. The dividend is payable on April 10, 2014, to shareholders of record on March 31, 2014.

Propel Marketing and Beasley Broadcast Group Work Together to Help Local Business Grow with Online Marketing Solutions

Propel Marketing announced its agreement with Beasley Broadcast Group Inc. Under this agreement, Beasley is enabled to offer Propel Marketing's products and services to its business customers, including responsive site design, search engine optimization, display advertising, search engine marketing, listings and local profiles, social media and online reputation management. Through this relationship, Propel Marketing will not only create and deliver online marketing solutions, but also provide a dedicated team of specialists to ensure that Beasley's clients are fully leveraging Propel Marketing products. The collaboration will enhance Beasley's on-air and digital advertising opportunities already available and implement successful online marketing campaigns for existing and future clients.

Beasley Broadcast Group Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Beasley Broadcast Group Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net income of $3,580,916 or $0.16 diluted earnings per share on net revenue of $27,287,516 against net income of $3,605,281 or $0.16 diluted earnings per share on net revenue of $27,436,531 a year ago. Operating income was $7,401,941 and income before income taxes was $6,015,234 against operating income of $8,071,142 and income before income taxes of $6,044,237 a year ago. The $0.7 million, or 8.3% year-over-year reduction in 2013 fourth quarter operating income is primarily attributable to the year-over-year revenue decline and a $0.5 million or 2.7% increase in total operating expenses compared with fourth quarter 2012 levels. The $0.1 million, or 0.5%, decline in net revenue during the three months ended December 31, 2013 primarily reflects the impact of a reduction in political advertising compared with the same period in 2012. For the year, the company reported net income of $11,546,263 or $0.51 diluted earnings per share on net revenue of $104,905,720 against net income of $11,031,270 or $0.48 diluted earnings per share on net revenue of $100,240,597 a year ago. Operating income was $26,830,629 and income before income taxes was $18,577,802 against operating income of $27,509,373 and income before income taxes of $18,278,157 a year ago. Net cash provided by operating activities was $19,913,684 against $20,404,535 a year ago. Consolidated operating cash flow was $30.5 million, resulting in a reduction in the leverage ratio to 3.5x.

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