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)

6 Months Ended

Jun. 30, 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 June 30, 2014
Net revenue	$	47,855	$	14,390	$	6,392		$	—		$	68,637
Operating expenses		33,910		10,063		6,439			5,458			55,870

Net operating income (loss) before depreciation, amortization and loss on disposal of assets	$	13,945	$	4,327	$	(47	)	$	(5,458	)	$	12,767

Depreciation		1,995		761		133			278			3,167
Amortization		24		1,202		303			—			1,529
Change in estimated fair value of contingent earn-out consideration		—		90		152			—			242
Loss on disposal of assets		338		—		—			—			338

Net operating income (loss) from continuing operations	$	11,588	$	2,274	$	(635	)	$	(5,736	)	$	7,491

Three Months Ended June 30, 2013
Net revenue	$	47,025	$	9,906	$	3,205		$	—		$	60,136
Operating expenses		30,844		6,887		3,452			5,092			46,275

Net operating income (loss) before depreciation, amortization, impairments and loss on disposal of assets	$	16,181	$	3,019	$	(247	)	$	(5,092	)	$	13,861

Depreciation		1,964		744		118			276			3,102
Amortization		43		643		2			—			688
Impairment of indefinite-lived long-term assets other than goodwill		—		—		345			—			345
Impairment of goodwill		—		—		438			—			438
Loss on disposal of assets		1		—		—			—			1

Net operating income (loss) from continuing operations	$	14,173	$	1,632	$	(1,150	)	$	(5,368	)	$	9,287


	Radio Broadcast		Internet and e-commerce		Publishing			Corporate			Consolidated
	(Dollars in thousands)
Six Months Ended June 30, 2014
Net revenue	$	93,431	$	27,300	$	10,239		$	—		$	130,970
Operating expenses		65,099		19,880		10,858			12,288			108,125

Net operating income (loss) before depreciation, amortization and loss on disposal of assets	$	28,332	$	7,420	$	(619	)	$	(12,288	)	$	22,845

Depreciation		3,983		1,514		234			565			6,296
Amortization		52		2,480		605			—			3,137
Change in estimated fair value of contingent earn-out consideration		—		217		152			—			369
Loss on disposal of assets		221		—		—			—			221

Net operating income (loss) from continuing operations	$	24,076	$	3,209	$	(1,610	)	$	(12,853	)	$	12,822

Six Months Ended June 30, 2013
Net revenue	$	90,272	$	19,622	$	5,870		$	—		$	115,764
Operating expenses		60,411		13,728		6,475			10,888			91,502

Net operating income (loss) before depreciation, amortization, impairments and loss on disposal of assets	$	29,861	$	5,894	$	(605	)	$	(10,888	)	$	24,262

Depreciation		3,937		1,487		234			566			6,224
Amortization		78		1,299		4			—			1,381
Impairment of indefinite-lived long-term assets other than goodwill		—		—		345			—			345
Impairment of goodwill		—		—		438			—			438
Loss on disposal of assets		5		—		—			—			5

Net operating income (loss) from continuing operations	$	25,841	$	3,108	$	(1,626	)	$	(11,454	)	$	15,869


	Radio Broadcast		Internet and e-commerce		Publishing			Corporate			Consolidated
	(Dollars in thousands)
As of June 30, 2014
Inventories	$	—	$	390	$	350		$	—		$	740
Property, plant and equipment, net		84,117		6,936		2,041			8,374			101,468
Broadcast licenses		385,836		—		—			—			385,548
Goodwill		3,954		19,677		1,088			8			24,727
Other indefinite-lived intangible assets		—		—		868			—			868
Amortizable intangible assets, net		609		12,255		2,533			1			15,398
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