Salem Media Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment Data (Tables)

Segment Data (Tables)

3 Months Ended

Mar. 31, 2019

The table below presents financial information for each operating segment as of March 31, 2019 and 2018 based on the composition of our operating segments:


	Broadcast		Digital Media			Publishing			Unallocated Corporate Expenses			Consolidated
	(Dollars in thousands)
Three Months Ended March 31, 2019
Net revenue	$	46,093	$	10,240		$	4,136		$	—		$	60,469
Operating expenses		36,449		8,058			4,822			3,871			53,200

Net operating income (loss) before depreciation, amortization and net (gain) loss on the disposition of assets	$	9,644	$	2,182		$	(686	)	$	(3,871	)	$	7,269

Depreciation		1,860		774			116			183			2,933
Amortization		9		1,075			212			—			1,296
Net (gain) loss on the disposition of assets		3,783		239			—			2			4,024

Net operating income (loss)	$	3,992	$	94		$	(1,014	)	$	(4,056	)	$	(984	)

Three Months Ended March 31, 2018
Net revenue	$	48,050	$	10,394		$	5,351		$	—		$	63,795
Operating expenses		35,750		8,374			5,587			3,921			53,632

Net operating income (loss) before depreciation, amortization and net (gain) loss on the disposition of assets	$	12,300	$	2,020		$	(236	)	$	(3,921	)	$	10,163

Depreciation		1,858		802			131			218			3,009
Amortization		10		1,225			243			—			1,478
Net (gain) loss on the disposition of assets		5		—			—			—			5

Net operating income (loss)	$	10,427	$	(7	)	$	(610	)	$	(4,139	)	$	5,671


	Broadcast		Digital Media		Publishing		Unallocated Corporate		Consolidated
	(Dollars in thousands)
As of March 31, 2019
Inventories, net	$	—	$	—	$	533	$	—	$	533
Property and equipment, net		80,505		6,093		866		8,082		95,546
Broadcast licenses		372,025		—		—		—		372,025
Goodwill		2,957		21,592		1,888		8		26,445
Other indefinite-lived intangible assets		—		—		277		—		277
Amortizable intangible assets, net		295		7,533		1,809		2		9,639
As of December 31, 2018
Inventories, net	$	—	$	290	$	387	$	—	$	677
Property and equipment, net		81,269		6,184		933		7,958		96,344
Broadcast licenses		376,316		—		—		—		376,316
Goodwill		2,960		21,933		1,888		8		26,789
Other indefinite-lived intangible assets		—		—		277		—		277
Amortizable intangible assets, net		303		8,937		2,021		3		11,264