Earnings Labs

Beasley Broadcast Group, Inc. (BBGI)

Q1 2013 Earnings Call· Fri, Apr 26, 2013

$21.25

-4.79%

Key Takeaways · AI generated
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Same-Day

+0.30%

1 Week

-7.58%

1 Month

+10.15%

vs S&P

+5.74%

Transcript

Operator

Operator

Good day, and welcome to this Beasley Broadcast Group First Quarter Earnings Call. Today's call is being recorded. At this time, I'd like to turn the call over to Ms. Caroline Beasley. Please go ahead, ma'am.

Caroline Beasley

Management

Thank you, Melissa, and good morning. Welcome to the Beasley Broadcast Group First Quarter 2013 Webcast. Before beginning, I'd like to emphasize that this webcast will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors section of our most recent Form 10-K. Today’s webcast will also contain a discussion of certain non-GAAP financial measures within the meaning of Item 10 of Reg S-K. A reconciliation of these non-GAAP measures with their most directly comparable financial measures, calculated and presented in accordance with GAAP, can be found in this morning’s news announcement and on our website. I'd also remind listeners that, following its completion, a replay of today's webcast can be accessed for 5 days on our website, bbgi.com. You can also find a copy of today's press release on the Investors or Press Room sections of the site. My remarks this morning will primarily focus on the first quarter, our balance sheet and our markets. So for the quarter, actual net revenue increased 6.5%. Now on a same-station basis, net revenue increased 3.4%, and this excludes revenue from KOAS in Las Vegas, which we acquired in the third quarter of 2012. Our first quarter revenue growth primarily reflects double-digit increases in 2 of our 3 largest market clusters, that's Philly and Vegas, as well as a double-digit increase in our Fort Myers operations. On a consolidated same-station basis, national and digital revenue increased approximately 20% and 43%, respectively, which more than offset a 2% decline in local revenue for the quarter. We have 5 markets that report to Miller Kaplan, and these markets account for approximately 77% of our total revenue. According to Miller Kaplan, total revenue in these 5 markets decreased 0.5% compared to our station clusters…

Operator

Operator

That does conclude our conference for today.