AP NEWS

Salem Communications: 3Q Earnings Snapshot

November 12, 2019 GMT

CAMARILLO, Calif. (AP) _ Salem Communications Corp. (SALM) on Tuesday reported a third-quarter loss of $20 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Camarillo, California-based company said it had a loss of 75 cents. Losses, adjusted for non-recurring costs and asset impairment costs, came to 2 cents per share.

The multimedia company posted revenue of $64.1 million in the period.

For the current quarter ending in December, Salem Communications said it expects revenue in the range of $67.2 million.

In the final minutes of trading on Tuesday, the company’s shares hit $1.48. A year ago, they were trading at $3.02.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SALM at https://www.zacks.com/ap/SALM