Saga communications, inc. reports 3rd quarter 2024 results

Grosse pointe farms, mich., nov. 07, 2024 (globe newswire) -- saga communications, inc. (nasdaq - sga) (the “company” or “saga”) today reported that net revenue decreased 3.5% to $28.1 million for the quarter ended september 30, 2024 compared to $29.1 million for the same period last year. station operating expense increased 3.1% for the quarter to $23.5 million compared to the same period last year. for the quarter, operating income was $1.6 million compared to $3.5 million for the same quarter last year and station operating income (a non-gaap financial measure) decreased 21.2% to $6.0 million. capital expenditures were $625 thousand for the quarter compared to $760 thousand for the same period last year. we had net income of $1.3 million for the quarter compared to net income of $2.7 million for the third quarter last year. diluted earnings per share were $0.20 in the third quarter of 2024.
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