Salem Communications Increases First Quarter Revenue Guidance; Company to Present at A.G. Edwards 2005 Media & Entertainment Institutional Conference in Las VegasFriday, April 15, 2005 2:18 pm PDT
Specifically, the company announced increased revenue guidance for the first quarter of 2005. Salem is projecting net broadcasting revenue growth of approximately 10% and same station net broadcasting revenue growth of approximately 10% for the first quarter of 2005 compared to the same period in 2004.
In addition, the company announced that it will present at the A.G. Edwards 2005 Media and Entertainment Institutional Conference to be held at the Venetian Hotel and Casino in Las Vegas on Monday and Tuesday, April 18 and 19, 2005.
Edward G. Atsinger III, president and chief executive officer, and David A.R. Evans, executive vice president and chief financial officer, will present at 9:50 am PT on Monday, April 18. The presentation will be audio webcast live and then will be available for replay for 30 days. Both the live webcast and the replay will be accessible through the investor relations portion of the company's website at www.salem.cc.
Salem Communications Corporation (Nasdaq:SALM), headquartered in Camarillo, is the leading U.S. radio broadcaster focused on Christian and family-themed programming. Upon the close of all announced transactions, the company will own 105 radio stations, including 67 stations in 24 of the top 25 markets. In addition to its radio properties, Salem owns Salem Radio Network(R), which syndicates talk, news and music programming to approximately 1,900 affiliates; Salem Radio Representatives(TM), a national radio advertising sales force; Salem Web Network(TM), a leading Internet provider of Christian content and online streaming; and Salem Publishing(TM), a leading publisher of Christian-themed magazines. Additional information about Salem may be accessed at the company's website, www.salem.cc.
Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties, including but not limited to the ability of Salem to close and integrate announced transactions, market acceptance of Salem's radio station formats, competition from new technologies, adverse economic conditions, and other risks and uncertainties detailed from time to time in Salem's reports on Forms 10-K, 10-Q, 8-K and other filings filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Salem undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Released April 15, 2005