Earnings Labs

Beasley Broadcast Group, Inc. (BBGI)

Q4 2015 Earnings Call· Fri, Feb 12, 2016

$22.50

+0.13%

Key Takeaways · AI generated
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Same-Day

-3.74%

1 Week

-4.31%

1 Month

+3.74%

vs S&P

-5.22%

Transcript

Operator

Operator

Good day and welcome to the Beasley Broadcast Group 2015 Fourth Quarter Results Conference. As a reminder, today's conference is being recorded. At this time, I'd like to turn the conference over to Ms. Caroline Beasley. Please go ahead ma'am.

Caroline Beasley

Management

Thank you, David and good morning. Welcome to the Beasley Broadcast Group's fourth quarter 2015 web cast. Before beginning, I'd like to emphasize that that web cast 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 web cast will also contain a discussion of certain non-GAAP financial measures within the meaning of Item 10 of Reg FK. 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 Web site. I’d also remind listeners that following its completion, a replay of today's web cast can be accessed for five days on our web site. As on our past three web casts, I'll remind everyone that on December 1, 2014, we swapped five radio stations, including two FMs in Philly and two FMs and one AM in Miami, for a total of 14 CBS stations, including seven in Charlotte, six in Tampa and one in Philly. As a result of the transaction, on a GAAP basis, we're required to report the five stations that CBS assumed ownership of, under discontinued operations on the income statement, Despite having operated them through November 30 of 2014. As such, we again provided supplementary disclosures in today's release. Beginning in the first quarter of 2016, our reporting will become more simplified, as the results for the 2016 and 2015 period will solely reflect Beasley's current platform. For the fourth quarter, on a continuing ops or as-reported basis, revenue increased 53% and SOI rose 42.9%. Now this reporting reflects revenue from the new Tampa and Charlotte clusters for the 2015 fourth quarter, which were only…

Operator

Operator

And that does conclude today's conference, and we thank you for participating.