Saga communications, inc. reports 2nd quarter 2024 results

Grosse pointe farms, mich., aug. 08, 2024 (globe newswire) -- saga communications, inc. (nasdaq - sga) (the “company” or “saga”) today reported that net revenue decreased 1.5% to $28.7 million for the quarter ended june 30, 2024 compared to $29.2 million for the same period last year. station operating expense increased 5.1% for the quarter to $23.5 million compared to the same period last year. for the quarter, operating income was $2.1 million compared to $4.3 million for the same quarter last year and station operating income (a non-gaap financial measure) decreased to $6.4 million from $8.0 million for the same period last year. capital expenditures were $1.5 million for the quarter compared to $1.3 million for the same period last year. we had net income of $2.5 million for the quarter compared to net income of $3.4 million for the second quarter last year. diluted earnings per share were $0.40 in the second quarter of 2024.
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