2015 Q2 Form 10-Q Financial Statement

#000114420415047279 Filed on August 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $67.29M $68.64M
YoY Change -1.96% 14.14%
Cost Of Revenue $50.42M $51.89M
YoY Change -2.83% 26.01%
Gross Profit $16.87M $16.74M
YoY Change 0.78% -11.66%
Gross Profit Margin 25.07% 24.39%
Selling, General & Admin $3.520M $3.980M
YoY Change -11.56% -21.81%
% of Gross Profit 20.87% 23.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.000M $4.690M
YoY Change -36.03% 23.75%
% of Gross Profit 17.78% 28.02%
Operating Expenses $53.94M $55.87M
YoY Change -3.45% 20.73%
Operating Profit $9.254M $7.491M
YoY Change 23.53% -19.34%
Interest Expense $3.874M $4.068M
YoY Change -4.77% 9.38%
% of Operating Profit 41.86% 54.31%
Other Income/Expense, Net $0.00 $14.00K
YoY Change -100.0% 180.0%
Pretax Income $5.826M $2.090M
YoY Change 178.76% -78.09%
Income Tax $2.303M $827.0K
% Of Pretax Income 39.53% 39.57%
Net Earnings $3.523M $1.263M
YoY Change 178.94% -75.72%
Net Earnings / Revenue 5.24% 1.84%
Basic Earnings Per Share $0.14 $0.05
Diluted Earnings Per Share $0.14 $0.05
COMMON SHARES
Basic Shares Outstanding 25.43M shares 25.17M shares
Diluted Shares Outstanding 25.83M shares 25.95M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $200.0K
YoY Change 0.0% 100.0%
Cash & Equivalents $192.0K $232.0K
Short-Term Investments
Other Short-Term Assets $16.70M $14.70M
YoY Change 13.61% 22.5%
Inventory $900.0K $740.0K
Prepaid Expenses $6.101M
Receivables $34.84M $35.46M
Other Receivables $1.558M $2.989M
Total Short-Term Assets $54.10M $54.10M
YoY Change 0.0% 6.2%
LONG-TERM ASSETS
Property, Plant & Equipment $101.8M $101.5M
YoY Change 0.37% 2.11%
Goodwill $24.82M $24.73M
YoY Change 0.36% 12.49%
Intangibles $11.34M $15.40M
YoY Change -26.33% 89.89%
Long-Term Investments
YoY Change
Other Assets $2.699M $1.977M
YoY Change 36.52% 9.89%
Total Long-Term Assets $531.9M $534.9M
YoY Change -0.56% 2.34%
TOTAL ASSETS
Total Short-Term Assets $54.10M $54.10M
Total Long-Term Assets $531.9M $534.9M
Total Assets $586.0M $589.0M
YoY Change -0.51% 2.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.587M $4.065M
YoY Change 12.84% 18.72%
Accrued Expenses $11.92M $11.78M
YoY Change 1.16% 72.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.300M $1.500M
YoY Change 253.33% -70.59%
Total Short-Term Liabilities $42.90M $40.18M
YoY Change 6.78% 12.97%
LONG-TERM LIABILITIES
Long-Term Debt $272.9M $287.7M
YoY Change -5.14% -1.74%
Other Long-Term Liabilities $1.115M $3.945M
YoY Change -71.74% 19625.0%
Total Long-Term Liabilities $1.115M $3.945M
YoY Change -71.74% 19625.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.90M $40.18M
Total Long-Term Liabilities $1.115M $3.945M
Total Liabilities $380.6M $386.5M
YoY Change -1.53% 1.3%
SHAREHOLDERS EQUITY
Retained Earnings -$2.253M -$3.326M
YoY Change -32.26% -66.85%
Common Stock $241.4M $239.6M
YoY Change 0.76% 1.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.01M $34.01M
YoY Change 0.0% 0.0%
Treasury Stock Shares 2.318M shares 2.318M shares
Shareholders Equity $205.4M $202.5M
YoY Change
Total Liabilities & Shareholders Equity $586.0M $589.0M
YoY Change -0.51% 2.69%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $3.523M $1.263M
YoY Change 178.94% -75.72%
Depreciation, Depletion And Amortization $3.000M $4.690M
YoY Change -36.03% 23.75%
Cash From Operating Activities $8.810M $10.63M
YoY Change -17.12% 5.67%
INVESTING ACTIVITIES
Capital Expenditures $200.0K -$3.110M
YoY Change -106.43% 7.61%
Acquisitions
YoY Change
Other Investing Activities -$5.330M -$4.910M
YoY Change 8.55% -729.49%
Cash From Investing Activities -$7.680M -$8.020M
YoY Change -4.24% 281.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.120M -2.650M
YoY Change -57.74% -66.88%
NET CHANGE
Cash From Operating Activities 8.810M 10.63M
Cash From Investing Activities -7.680M -8.020M
Cash From Financing Activities -1.120M -2.650M
Net Change In Cash 10.00K -40.00K
YoY Change -125.0% 0.0%
FREE CASH FLOW
Cash From Operating Activities $8.810M $10.63M
Capital Expenditures $200.0K -$3.110M
Free Cash Flow $8.610M $13.74M
YoY Change -37.34% 6.1%

Facts In Submission

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DepreciationDepletionAndAmortization
8876000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
344000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
314000 USD
us-gaap Accretion Expense
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540000 USD
us-gaap Accretion Expense
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160000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1510000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
911000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
648000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2197000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4024000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6315000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
407000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1463000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3512000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2674000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-3733000 USD
us-gaap Increase Decrease In Deferred Revenue
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-4359000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-767000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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327000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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-38000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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-154000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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20930000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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15947000 USD
salm Payment For Capital Expenditures Reimbursable Under Tenant Improvement Allowances And Trade Agreements
PaymentForCapitalExpendituresReimbursableUnderTenantImprovementAllowancesAndTradeAgreements
137000 USD
salm Payment For Capital Expenditures Reimbursable Under Tenant Improvement Allowances And Trade Agreements
PaymentForCapitalExpendituresReimbursableUnderTenantImprovementAllowancesAndTradeAgreements
947000 USD
us-gaap Payments For Proceeds From Other Deposits
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50000 USD
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
225000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
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4563000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
5186000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2000 USD
us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Payments For Proceeds From Other Investing Activities
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228000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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390000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Payments Of Loan Costs
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us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
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salm Payments Of Contingent Earn Out Consideration
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salm Payments Of Contingent Earn Out Consideration
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
62000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
58000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2958000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3301000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Proceeds From Repayments Of Bank Overdrafts
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978000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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167000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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159000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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65000 USD
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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232000 USD
us-gaap Interest Paid
InterestPaid
6682000 USD
us-gaap Interest Paid
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us-gaap Income Taxes Paid Net
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238000 USD
us-gaap Income Taxes Paid Net
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316000 USD
salm Supplemental Noncash Trade Revenue
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3524000 USD
salm Supplemental Noncash Trade Revenue
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3189000 USD
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
3379000 USD
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
2960000 USD
salm Net Present Value Of Contingent Consideration
NetPresentValueOfContingentConsideration
2047000 USD
salm Net Present Value Of Contingent Consideration
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300000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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300000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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salm Net Present Value Of Deferred Cash Payments Current
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salm Net Present Value Of Deferred Cash Payments Current
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salm Net Present Value Of Deferred Cash Payments Non Current
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salm Net Present Value Of Deferred Cash Payments Non Current
NetPresentValueOfDeferredCashPaymentsNonCurrent
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salm Payment For Capital Expenditures Net Of Tenant Improvement Allowances
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salm Capital Expenditures Reimbursable Under Tenant Improvement Allowances
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137000 USD
salm Capital Expenditures Reimbursable Under Tenant Improvement Allowances
CapitalExpendituresReimbursableUnderTenantImprovementAllowances
947000 USD
salm Non Cash Capital Expenditures For Property And Equipment Acquired Under Trade Agreements
NonCashCapitalExpendituresForPropertyAndEquipmentAcquiredUnderTradeAgreements
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salm Non Cash Capital Expenditures For Property And Equipment Acquired Under Trade Agreements
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11000 USD
us-gaap Payments For Previous Acquisition
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USD
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
935000 USD
salm Payment For Capital Expenditures Net Of Tenant Improvement Allowances
PaymentForCapitalExpendituresNetOfTenantImprovementAllowances
5980000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Reclassifications</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. These reclassifications include the change in composition of our operating segments based on our acquisition of Eagle Publishing during 2014 to conform to how our chief operating decision makers, who we define as a collective group of senior executives, assesses the performance of each operating segment and determines the appropriate allocations of resources to each segment. Refer to Note 17 &#150; Segment Data for additional information.</font></p> </div>
us-gaap Business Combination Acquisition Related Costs
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200000 USD
us-gaap Business Combination Acquisition Related Costs
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us-gaap Use Of Estimates
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Use of Estimates </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas for which management uses estimates include: (1) asset impairments, including broadcasting licenses, goodwill and other indefinite-lived intangible assets; (2) income tax valuation allowances; (3) uncertain tax positions; (4) allowance for doubtful accounts; (5) inventory reserves; (6) reserves for royalty advances; (7) self-insurance reserves; (8) fair value of equity awards; (9) estimated lives for tangible and intangible assets; (10) fair value measurements; (11) contingency reserves; (12) probabilities associated with the potential for contingent earn-out consideration; and (13) sales returns and allowances. These estimates require the use of judgment as future events and the effect of these events cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and we may consult outside experts to assist as considered necessary.</font></p> </div>
salm Percentage Of Intangible Assets
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0.71 pure
salm Intangible Assets License Renewal Period
IntangibleAssetsLicenseRenewalPeriod
P8Y
us-gaap Asset Impairment Charges
AssetImpairmentCharges
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BusinessAcquisitionInitialPurchasePrice
6508000 USD
CY2015Q2 salm Business Acquisition Escrow Deposits Previously Paid
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CY2015Q2 salm Business Acquisition Deferred Cash Payment After Two Years
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176000 USD
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 USD
CY2015Q2 salm Business Acquisition Deferred Cash Payment After Three Years
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124000 USD
CY2015Q2 salm Business Acquisition Cost Of Acquired Entity Cash Paid And Due
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6873000 USD
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
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200000 USD
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BusinessAcquisitionContingentConsiderationAtPresentValue
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salm Fair Value Business Combination Contingent Consideration
FairValueBusinessCombinationContingentConsideration
300000 USD
salm Accretion Of Acquisition Related Contingent Consideration
AccretionOfAcquisitionRelatedContingentConsideration
57000 USD
salm Reclassification From Long Term Borrowing To Shortterm Borrowing
ReclassificationFromLongTermBorrowingToShorttermBorrowing
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salm Business Combination Contingent Consideration Arrangements Payment
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CY2015Q1 salm Business Acquisition Contingent Consideration At Present Value
BusinessAcquisitionContingentConsiderationAtPresentValue
3286000 USD
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FairValueBusinessCombinationContingentConsideration
142000 USD
CY2015Q2 salm Accretion Of Acquisition Related Contingent Consideration
AccretionOfAcquisitionRelatedContingentConsideration
32000 USD
CY2015Q2 salm Reclassification From Long Term Borrowing To Shortterm Borrowing
ReclassificationFromLongTermBorrowingToShorttermBorrowing
USD
CY2015Q2 salm Business Combination Contingent Consideration Arrangements Payment
BusinessCombinationContingentConsiderationArrangementsPayment
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salm Number Of Stock Option Plans
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
373000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
195000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
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559000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
292000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7498 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5237 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0428 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0227 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0085 pure
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1816204 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.88
CY2014Q4 salm Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsWeightedAverageGrantDateFairValue
3.39
CY2014 salm Share Based Compensation Arrangements By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M18D
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5718000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
10000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.98
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.16
salm Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
1.31
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
54462 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
12.15
salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageGrantDateFairValue
8.05
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.87
CY2015Q2 salm Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsWeightedAverageGrantDateFairValue
3.40
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2979000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
3.72
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y7M6D
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1365000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestNumber
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CY2015Q2 salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageExercisePrice
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salm Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue
3.01
salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageRemainingContractualTerm
P6Y
CY2015Q2 salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected Tovested Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedTovestedAggregateIntrinsicValue
1532000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
10000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageRemainingContractualTerms
P1Y
salm Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Granted In Period Intrinsic Value
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedInPeriodIntrinsicValue
63000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
shares
salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Lapse Of Restrictions In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsLapseOfRestrictionsInPeriodWeightedAverageGrantDateFairValue
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
shares
salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Forfeited In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionForfeitedInPeriodWeightedAverageGrantDateFairValue
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
10000 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.83
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P8M12D
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
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63000 USD
CY2015Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
600000 USD
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
329000 USD
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
156000 USD
CY2014Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
132000 USD
CY2015Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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63000 USD
CY2014Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
197000 USD
CY2015Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
93000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6708 pure
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
pure
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0282 pure
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><b>NOTE 7. RECENT ACCOUNTING PRONOUNCEMENTS </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in;">Changes to accounting principles are established by the FASB in the form of accounting standards updates (&#147;ASU's&#148;) to the FASB's Accounting Standards Codification. We consider the applicability and impact of all ASU's. ASU's that are not listed below were assessed and determined to be not applicable to our financial position, results of operations, cash flows, or presentation thereof.</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements, which covers a wide range of Topics in the Codification. The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost on most entities. As the objectives of this standard are to clarify the Codification; correct unintended application of guidance, eliminate inconsistencies, and to improve the codification's presentation of guidance, the adoption of this standard is not expected to impact our financial position, results of operations, cash flows, or presentation thereof.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In April 2015, the FASB issued ASU 2015-03, <i>Simplifying the Presentation of Debt Issuance Costs</i>, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new standard is effective for fiscal years beginning after December 15, 2015, and for interim reporting periods within those fiscal years, with early adoption permitted. The new guidance is to be applied on a retrospective basis and reported as a change in accounting principle. The adoption of ASC Update 2015-03 will affect our balance sheet presentation only and will have no impact on our financial position, results of operations or cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in;">In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): &#160;<i>Amendments to the Consolidation Analysis</i>, which modifies existing consolidation guidance related to (i) limited partnerships and similar legal entities, (ii) the evaluation of&#160;variable interests for fees paid to decision makers or service providers, (iii) the effect of fee arrangements and related parties on the primary&#160;beneficiary determination, and (iv) certain investment funds. These changes reduce the number of consolidation models from four to two and place more emphasis on the risk of loss when determining a controlling financial interest. This guidance is effective for fiscal years beginning after December 15, 2015. We are in the process of evaluating the adoption of this ASU, but do not expect this to have a material effect on our financial position, results of operations or cash flows. &#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In August 2014, the FASB issued ASU 2014-15, <i>Disclosure of Uncertainties About an Entities Ability to Continue as a Going Concern</i>, which requires management to assess a company's ability to continue as a going concern and to provide related footnote disclosures. The new standard provides management with specific guidance on the assessments and related disclosures as well as provides a longer look-forward period as one year from the financial statement issuance date. The new standard is effective for the annual period ending after December 15, 2016, with early adoption permitted. The adoption of ASU 2014-15 is not expected to have a material impact on our financial position, results of operations, cash flows, or presentation thereof.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-family: 'Times New Roman';">In May 2014, the FASB issued ASU 2014-09, <i>Revenue from Contracts with Customers,</i> which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard is effective as of the first interim period within annual reporting periods beginning on or after December 15, 2016, and will replace most existing revenue recognition guidance in U.S. GAAP. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of ASU 2014-09 on our </font>financial position, results of operations, cash flows, or presentation thereof.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In April 2014, the FASB issued ASU 2014-08, <i>Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</i>. ASU 2014-08 limits the requirement to report discontinued operations to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity's operations and financial results. The amendments also require expanded disclosures concerning discontinued operations and disclosures of certain financial results attributable to a disposal of a significant component of an entity that does not qualify for discontinued operations reporting. These amendments are effective prospectively for reporting periods beginning on or after December 15, 2014, with early adoption permitted. We elected early adoption of the provisions of ASU 2014-08 as of the annual period ending December 31, 2014. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.</p> </div>
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SALEM MEDIA GROUP, INC. /DE/

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