Beasley Broadcast Group Reports Third Quarter Revenue Of $24.2 Million; Same-Station Net Revenue Rises 2.6%

Webcast:	Today, October 29, 2010 at 11:00 a.m. ET
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NAPLES, Fla., Oct. 29, 2010 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq:BBGI), a large- and mid-size market radio broadcaster, today announced operating results for the three- and nine-month periods ended September 30, 2010 as summarized below: 

Summary of Third Quarter and Year-to-date Results
In millions, except per share data	Three Months Ended September 30,			Nine Months Ended September 30,
	2010	2009	Change	2010	2009	Change
Net revenue	$24.2	$24.4	(0.9)%	$71.0	$70.6	0.6%
Station operating income (SOI - non-GAAP)	8.4	6.9	22.5%	23.0	19.0	21.1%
Operating income*	5.9	5.8	1.5%	15.1	12.3	22.4%
Net income*	2.1	1.4	51.2%	4.7	2.1	122.0%
Net income per diluted share*	$0.09	$0.06	50.0%	$0.21	$0.09	133.3%
* Operating income, net income and net income per diluted share for the three and nine month periods ended September 30, 2009 reflect a $1.7 million pre-tax gain on the sale of certain Las Vegas radio assets.

The $0.2 million, or 0.9% decrease in net revenue during the three months ended September 30, 2010, compared with the same period in 2009 was primarily due to a $0.5 million revenue decline at the Company's Miami-Fort Lauderdale market cluster related to the non-renewal of certain sports programming rights which generated revenue of approximately $0.7 million in the comparable year ago period. The decrease was partially offset by a net revenue increase at the Company's Las Vegas market cluster. On a same-station basis (a non-GAAP financial measure as defined on page 3 which excludes 2009 third quarter net revenue from certain Las Vegas radio station assets which were sold in August 2009 and the aforementioned net revenue related to the Miami-Fort Lauderdale market cluster sports programming) consolidated net revenue rose 2.6% in the 2010 third quarter to $24.2 million from $23.6 million in the third quarter of 2009.

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