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Income Statement
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SALEM MEDIA GROUP, INC. (SALM)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   8-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Broadcast   191.4178.1193.3198.5196.2202.0197.2
    Digital Media   42.239.639.242.643.146.844.8
    Publishing   24.618.521.421.724.4  
    Other        25.523.8
Total revenues  267.0258.2236.2253.9262.8263.7274.3265.8
            Revenue growth   [+]3.4%9.3%-7.0%-3.4%-0.4%-3.9%3.2%-0.3%
Cost of goods sold   [+]0.01.93.34.66.24.617.317.7
Gross profit  267.0256.4233.0249.3256.6259.1257.0248.0
            Gross margin  100.0%99.3%98.6%98.2%97.6%98.3%93.7%93.3%
Selling, general and administrative   [+]261.817.516.215.915.716.315.015.1
Equity in earnings  4.1       
Other operating expenses  -17.5216.2205.4213.9215.7216.0208.8201.0
EBITDA   [+]26.735.525.435.443.443.850.549.7
            EBITDA margin  10.0%13.7%10.8%13.9%16.5%16.6%18.4%18.7%
Depreciation  12.610.910.811.312.012.412.212.4
EBITA  14.124.614.724.031.431.538.437.2
            EBITA margin  5.3%9.5%6.2%9.5%11.9%11.9%14.0%14.0%
Amortization of intangibles   1.93.34.66.24.65.15.3
EBIT   [+]14.122.711.419.425.226.933.331.9
            EBIT margin  5.3%8.8%4.8%7.7%9.6%10.2%12.1%12.0%
Non-recurring items   [+]4.9-23.619.127.68.23.95.2-1.1
Interest expense, net   [+]-0.215.816.117.518.316.714.915.4
Other income (expense), net   [+]-13.010.30.01.80.6-2.50.30.2
Pre-tax income  -3.640.8-23.8-23.9-0.73.813.417.8
Income taxes  -0.4-0.830.34.02.5-20.94.66.7
            Tax rate  10.8%     34.0%37.5%
Net income  -3.241.5-54.1-27.8-3.224.68.911.2
            Net margin  -1.2%16.1%-22.9%-11.0%-1.2%9.3%3.2%4.2%
   
Basic EPS   [+] $1.54($2.03)($1.05)($0.12)$0.95$0.35$0.44
Diluted EPS   [+] $1.52($2.03)($1.05)($0.12)$0.93$0.34$0.43
   
Dividends per share   [+]     $0.26$0.26$0.26
   
Shares outstanding (basic)   [+] 26.926.726.526.226.125.725.4
Shares outstanding (diluted)   [+] 27.326.726.526.226.426.025.9
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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