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, 2014

Management uses operating income before depreciation, amortization, impairments and (gain) loss on sale or disposal of assets, as its measure of profitability for purposes of assessing performance and allocating resources.


	Radio Broadcast			Internet and e-commerce		Publishing			Corporate			Consolidated
	(Dollars in thousands)
Three Months Ended March 31, 2014
Net revenue	$	45,576		$	12,910	$	3,847		$	—		$	62,333
Operating expenses		31,189			9,817		4,419			6,830			52,255

Operating income (loss) before depreciation, amortization and (gain) loss on disposal of assets	$	14,387		$	3,093	$	(572	)	$	(6,830	)	$	10,078

Depreciation		1,988			753		101			287			3,129
Amortization		28			1,278		302			—			1,608
Change in estimated fair value of contingent earn-out consideration		—			127		—			—			127
(Gain) loss on disposal of assets		(117	)		—		—			—			(117	)

Operating income (loss) from continuing operations	$	12,488		$	935	$	(975	)	$	(7,117	)	$	5,331

Three Months Ended March 31, 2013
Net revenue	$	43,247		$	9,716	$	2,665		$	—		$	55,628
Operating expenses		29,567			6,841		3,023			5,796			45,227

Operating income (loss) before depreciation, amortization and (gain) loss on disposal of assets	$	13,680		$	2,875	$	(358	)	$	(5,796	)	$	10,401

Depreciation		1,973			743		116			290			3,122
Amortization		35			656		2			—			693
(Gain) loss on disposal of assets		4			—		—			—			4

Operating income (loss) from continuing operations	$	11,668		$	1,476	$	(476	)	$	(6,086	)	$	6,582


	Radio Broadcast			Internet and e-commerce		Publishing			Corporate			Consolidated
	(Dollars in thousands)
As of March 31, 2014
Inventories	$	—		$	387	$	177		$	—		$	564
Property, plant and equipment, net		82,291			6,960		2,006			8,382			99,639
Broadcast licenses		383,606			—		—			—			383,606
Goodwill		3,936			19,677		1,088			8			24,709
Other indefinite-lived intangible assets		—			—		868			—			868
Amortizable intangible assets, net		633			13,454		2,809			1			16,897
As of December 31, 2013
Property, plant and equipment, net	$	82,457		$	6,402	$	1,596		$	8,473		$	98,928
Broadcast licenses		381,836			—		—			—			381,836
Goodwill		3,917			17,550		899			8			22,374
Other indefinite-lived intangible assets		—			—		868			—			868
Amortizable intangible assets, net		661			8,119		11			2			8,793

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details