Saga revenue, net income dip

GROSSE POINTE FARMS—Saga Communications Inc. (Nasdaq: SCA) reported a decline in net income and revenue for the quarter and year ended Dec. 31.

For the quarter, net income was $3.8 million or 64 cents a share, down from $4.3 million or 72 cents a share in the fourth quarter of 2018. Revenue was $31.8 million, down from $32.9 million in 2018.

For the full year, net income was $13.3 million or $2.23 a share, down from $13.7 million or $2.30 a share in 2018. Revenue was $123.1 million, down from $124.8 million in 2018.

The company will pay a dividend of 32 cents a share on April 10. The company said it plans capital expenditures between $5 million and $5.5 million in 2020, compared to $5.7 million in 2019 and $5.9 million in 2018.

To listen to a conference call discussing these results, visit www.sagacom.com.

Saga is a broadcasting company that owns 79 FM radio stations, 34 AM radio stations and 77 metro signals in 27 markets.

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