The Company will host a webcast today, October 25, 2013, at 10:00 a.m. ET to discuss its financial results and operations. Interested parties may access the webcast at the Company's web site at
. Following its completion, a replay of the webcast can be accessed for five days on the Company's web site,
About Beasley Broadcast Group
Founded in 1961, Beasley Broadcast Group, Inc.,
, is a radio broadcasting company that owns and operates 44 stations (28 FM and 16 AM) located in eleven large- and mid-size markets in the United States. The Company also operates one station in the expanded AM band in Augusta, GA.
Station Operating Income (SOI) consists of net revenue less station operating expenses. We define station operating expenses as cost of services and selling, general and administrative expenses.
Same-station results, as presented herein, compare stations operated by the Company throughout all periods presented in the following tables. For the three and nine months ended September 30, 2013, same-station results exclude revenue and expenses related to the acquisition of KOAS-FM in Las Vegas during the 2012 third quarter and the revenue and expenses related to the acquisition of KVGS-FM in Las Vegas during the 2013 third quarter. For the three and nine months ended September 30, 2012, same-station results exclude revenue and expenses related to the acquisition of KOAS-FM in Las Vegas during the 2012 third quarter.
SOI and same-station SOI are financial measures of performance that are not calculated in accordance with U.S. generally accepted accounting principles, which we refer to as GAAP. We use these non-GAAP financial measures for internal budgeting purposes. We also use SOI to make decisions as to the acquisition and disposition of radio stations. SOI and same-station SOI excludes corporate-level costs and expenses and depreciation and amortization, which may be material to an assessment of the Company's overall operating performance. Management compensates for this limitation by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of the Company's operating performance. Moreover, the corresponding amounts of the non-cash and corporate-level costs and expenses excluded from the calculation are available to investors as they are presented on our statements of operations contained in our periodic reports filed with the Securities and Exchange Commission (SEC).