Saga communications, inc. reports 3rd quarter 2023 results

Grosse pointe farms, mich., nov. 02, 2023 (globe newswire) -- saga communications, inc. (nasdaq - sga) (the “company” or “saga”) today reported that net revenue decreased 2.8% to $29.2 million for the quarter ended september 30, 2023 compared to $30.0 million for the same period last year. station operating expense increased 2.1% for the quarter to $22.8 million compared to the same period last year. for the quarter, operating income was $3.5 million compared to $1.1 million for the same quarter last year and station operating income (a non-gaap financial measure) decreased 14.7% to $7.6 million. capital expenditures were $760 thousand for the quarter compared to $1.2 million for the same period last year. we had net income of $2.7 million for the quarter compared to a net loss of $104 thousand for the third quarter last year. diluted earnings per share were $0.45 in the third quarter of 2023.
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