Salem Media Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED):

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED):

12 Months Ended

Dec. 31, 2012

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED):

NOTE 14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED):

The following table sets forth selected financial results of the company on a quarterly basis.


	March 31				June 30					September 30				December 31
	2011		2012		2011		2012			2011		2012		2011		2012
	(Dollars in thousands, except per share data)
Total revenue	$	51,163	$	54,284	$	55,440	$	57,626		$	54,503	$	56,719	$	57,060	$	60,550
Operating income (loss)		11,918		7,930		9,920		3,862			9,286		8,479		10,875		10,219
Net income (loss) before discontinued operations		2,559		885		1,085		(1,779	)		1,689		3,407		1,026		2,010
Net income (loss)	$	2,587	$	843	$	1,100	$	(1,792	)	$	1,485	$	3,368	$	446	$	2,009
Basic earnings (loss) per share	$	0.10	$	0.04	$	0.04	$	(0.07	)	$	0.07	$	0.14	$	0.04	$	0.08
Basic earnings (loss) per share from continuing operations	$	0.11	$	0.03	$	0.05	$	(0.07	)	$	0.06	$	0.13	$	0.02	$	0.08
Diluted earnings (loss) per share	$	0.10	$	0.04	$	0.04	$	(0.07	)	$	0.07	$	0.14	$	0.04	$	0.08
Diluted earnings (loss) per share from continuing operations	$	0.10	$	0.03	$	0.04	$	(0.07	)	$	0.06	$	0.13	$	0.02	$	0.08
Weighted average shares outstanding – basic		24,520,858		24,564,947		24,279,251		24,356,298			24,546,056		24,663,027		24,554,245		24,726,148
Weighted average shares outstanding – diluted		24,759,253		24,753,671		24,491,530		24,356,298			24,746,164		25,358,052		24,737,629		25,266,368

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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