Ladies and gentlemen, thank you for standing by. Welcome to the Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, President and CEO, Mr. Ed Christian. Please go ahead.

Thank you, Greg. Appreciate it. And ladies and gentlemen, welcome again to another one of our conference calls. I have looked over here and I see the curtains slowly rising and standing in center stage at the microphone alone is Samuel Bush. So with that, we'll have a brief applause and Sam, it's up to you.

Thank you, Mr. Christian. This call will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties that are described in the Risk Factors section of our most recent Form 10-K. This call will also contain a discussion of certain non-GAAP financial measures. A reconciliation for all non-GAAP financial measures to the most directly comparable GAAP measure are attached in the selected financial data table. As reported in the press release for the quarter, our net revenue was approximately flat with last year at $32.2 million. Note that gross political revenue for the quarter this year was $195,000 compared to $510,000 for the quarter last year, a swing of $315,000. Station operating expense remained a strong point, with a decrease of $261,000 for the quarter including our picking up the expenses associated with our new stations in the Gainesville-Ocala market. This helped increase operating income to $6.6 million compared to $6 million last year. On a same-station basis, our expense controls resulted in a $1.2 million reduction in station operating expenses for the quarter. Free cash flow was $5.6 million for the quarter compared to $6 million last year. Of the roughly $2 million we spent on CapEx during the second quarter, almost $900,000 of that was related to upgrading the existing studio buildings in Charleston and Ocala as well as buying a piece of property where we intend to build a new Hilton Head studio building to replace our existing leased facility. For the six-month period, political was $259,000 compared to $787,000 last year. We expect political to pick up as we go through the year. In 2018, we had $488,000 and $1.6 million for the third and fourth quarters, respectively. Political is always a tough call, but we expect it to pick…

As he silently walks from the stage. Here we go. Sam, as usual, a cogent and precise reporting of the factual events over the last quarter for Saga. Now, let's start to peel the onion a little bit. Despite the fact that it was another fine quarter with decent margins and profits, it was still not thrilling. I underscore the word thrilling. I wish that I can have the legendary announcer for the Lone Ranger, Fred Foy, here right now to do the open of the Lone Ranger. Set up. Sam, do you -- you do -- you don't know who Fred Foy is, but let me just tell you that if you go back 70 years in the radio, there was Fred Foy who was kind of -- I consider the god of announcers. Now this was back in the days when radio stations had studio announcers. And Fred Foy just had it. He had the gift. He had the gift of tone, the gift of message, the gift of pacing and he was [technical difficulty] I remember as a child, sometimes riding to work with my father to his automotive parts business, we would pass this studio, the WXYZ radio, which is about four miles where I'm sitting right now. They were on Jefferson Avenue. And I would look at this little Tudor building and know that in that building, they produced not only in the Lone Ranger but Sergeant Preston of the Yukon and The Green Hornet. So, Fred Foy was really, really great, and I'm going to do something and please don't look at me a little goofy. But I want do something that will tie it up. So, bear with me for a second. [video presentation] [technical difficulty] The point being here is that that's…

Well, we apparently did. I was getting text from a couple of people, and all I can tell you at this point is that we will post a transcript later today. So, if any of you did have part of what Ed or I said, audio difficulties with hearing it, the transcript, once I get it, we will correct it to make sure it's accurate and any missing pieces are filled in and we'll post it to our website as soon as you can. It'll be sometime later this afternoon, evening or, worst case, first thing tomorrow morning. I'm ever quite sure when I'm going to get the transcript but it will be here -- it will be on the website corrected as soon as I can. And with that, because of the audio difficulties, I think, Greg, we'll turn it back over to you to wrap up the call. End of Q&A: Thank you. Ladies and gentlemen, that does conclude your conference for today. Thank you for your participation, and for using AT&T Executive Teleconference. You may now disconnect.