"Key Beasley clusters in Philadelphia, Las Vegas, Ft. Myers, Augusta and the Coastal Carolinas exceeded results from a year ago and operating results also benefited from growth in national revenue, reversing a trend from recent periods. In addition, the Company continued to drive strong interactive revenue growth with second quarter revenue from these sources rising approximately 19% from 2009 second quarter levels. Reflecting station level expense management disciplines, the Company generated second quarter SOI margins of 34.0%, a significant rise from 28.4% in the comparable period last year."We intend to remain vigilant with our expense management programs and to further reduce borrowings under our credit facility as well as our leverage ratio. In this regard, we ended the 2010 second quarter with approximately $147.8 million of borrowings under our credit facility, down from $151.8 million at the end of 2009 and a marked reduction from $174.5 million at December 31, 2008, and we accomplished this despite the enormous challenges presented during this period by the economic recession.
Beasley Broadcast Group Second Quarter Revenue Rises 5.6% To $24.9 Million; Same-Station Net Revenue Rises 6.6%
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.