2015 Q3 Form 10-Q Financial Statement

#000114420415063670 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q3
Revenue $67.49M $67.29M $69.61M
YoY Change -3.04% -1.96% 19.04%
Cost Of Revenue $51.13M $50.42M $51.67M
YoY Change -1.05% -2.83% 26.67%
Gross Profit $16.36M $16.87M $17.94M
YoY Change -8.81% 0.78% 1.47%
Gross Profit Margin 24.24% 25.07% 25.77%
Selling, General & Admin $3.700M $3.520M $3.880M
YoY Change -4.64% -11.56% -21.62%
% of Gross Profit 22.62% 20.87% 21.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.100M $3.000M $4.670M
YoY Change -33.62% -36.03% 23.54%
% of Gross Profit 18.95% 17.78% 26.03%
Operating Expenses $54.83M $53.94M $55.55M
YoY Change -1.3% -3.45% 21.44%
Operating Profit $8.800M $9.254M $8.847M
YoY Change -0.53% 23.53% -1.42%
Interest Expense $3.900M $3.874M $4.139M
YoY Change -5.77% -4.77% 9.79%
% of Operating Profit 44.32% 41.86% 46.78%
Other Income/Expense, Net $1.000K $0.00 $572.0K
YoY Change -99.83% -100.0% 14200.0%
Pretax Income $3.394M $5.826M $6.310M
YoY Change -46.21% 178.76% 51.14%
Income Tax $1.317M $2.303M $2.567M
% Of Pretax Income 38.8% 39.53% 40.68%
Net Earnings $2.077M $3.523M $3.743M
YoY Change -44.51% 178.94% -29.68%
Net Earnings / Revenue 3.08% 5.24% 5.38%
Basic Earnings Per Share $0.08 $0.14 $0.14
Diluted Earnings Per Share $0.08 $0.14 $0.14
COMMON SHARES
Basic Shares Outstanding 25.46M shares 25.43M shares 25.54M shares
Diluted Shares Outstanding 25.91M shares 25.83M shares 26.27M shares

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $200.0K $300.0K
YoY Change -33.33% 0.0% -78.57%
Cash & Equivalents $186.0K $192.0K $311.0K
Short-Term Investments
Other Short-Term Assets $17.50M $16.70M $15.00M
YoY Change 16.67% 13.61% 25.0%
Inventory $1.073M $900.0K $626.0K
Prepaid Expenses $7.624M $6.396M
Receivables $36.86M $34.84M $40.17M
Other Receivables $1.620M $1.558M $3.332M
Total Short-Term Assets $57.22M $54.10M $59.41M
YoY Change -3.69% 0.0% 19.2%
LONG-TERM ASSETS
Property, Plant & Equipment $103.6M $101.8M $100.3M
YoY Change 3.34% 0.37% 1.56%
Goodwill $24.97M $24.82M $24.73M
YoY Change 0.97% 0.36% 12.39%
Intangibles $12.70M $11.34M
YoY Change -26.33%
Long-Term Investments
YoY Change
Other Assets $2.591M $2.699M $2.100M
YoY Change 23.38% 36.52% 8.02%
Total Long-Term Assets $537.7M $531.9M $533.1M
YoY Change 0.85% -0.56% 2.28%
TOTAL ASSETS
Total Short-Term Assets $57.22M $54.10M $59.41M
Total Long-Term Assets $537.7M $531.9M $533.1M
Total Assets $594.9M $586.0M $592.6M
YoY Change 0.39% -0.51% 3.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.909M $4.587M $5.252M
YoY Change 12.51% 12.84% 69.15%
Accrued Expenses $12.25M $11.92M $13.32M
YoY Change -8.1% 1.16% 85.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.700M $5.300M $2.900M
YoY Change 165.52% 253.33% -6.45%
Total Short-Term Liabilities $47.41M $42.90M $42.72M
YoY Change 10.99% 6.78% 40.79%
LONG-TERM LIABILITIES
Long-Term Debt $272.2M $272.9M $283.5M
YoY Change -3.99% -5.14% -2.51%
Other Long-Term Liabilities $934.0K $1.115M $4.151M
YoY Change -77.5% -71.74% 20655.0%
Total Long-Term Liabilities $934.0K $1.115M $4.151M
YoY Change -77.5% -71.74% 20655.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.41M $42.90M $42.72M
Total Long-Term Liabilities $934.0K $1.115M $4.151M
Total Liabilities $388.9M $380.6M $387.4M
YoY Change 0.38% -1.53% 3.88%
SHAREHOLDERS EQUITY
Retained Earnings -$1.831M -$2.253M -$1.162M
YoY Change 57.57% -32.26% -75.33%
Common Stock $241.6M $241.4M $240.0M
YoY Change 0.65% 0.76% 1.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.01M $34.01M $34.01M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 2.318M shares 2.318M shares 2.318M shares
Shareholders Equity $206.0M $205.4M $205.1M
YoY Change
Total Liabilities & Shareholders Equity $594.9M $586.0M $592.6M
YoY Change 0.39% -0.51% 3.76%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q3
OPERATING ACTIVITIES
Net Income $2.077M $3.523M $3.743M
YoY Change -44.51% 178.94% -29.68%
Depreciation, Depletion And Amortization $3.100M $3.000M $4.670M
YoY Change -33.62% -36.03% 23.54%
Cash From Operating Activities $9.480M $8.810M $6.360M
YoY Change 49.06% -17.12% -32.7%
INVESTING ACTIVITIES
Capital Expenditures -$3.900M $200.0K -$1.790M
YoY Change 117.88% -106.43% -30.08%
Acquisitions
YoY Change
Other Investing Activities -$6.430M -$5.330M -$330.0K
YoY Change 1848.48% 8.55% -61.63%
Cash From Investing Activities -$10.32M -$7.680M -$2.120M
YoY Change 386.79% -4.24% -38.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 830.0K -1.120M -4.160M
YoY Change -119.95% -57.74% -11.11%
NET CHANGE
Cash From Operating Activities 9.480M 8.810M 6.360M
Cash From Investing Activities -10.32M -7.680M -2.120M
Cash From Financing Activities 830.0K -1.120M -4.160M
Net Change In Cash -10.00K 10.00K 80.00K
YoY Change -112.5% -125.0% -94.03%
FREE CASH FLOW
Cash From Operating Activities $9.480M $8.810M $6.360M
Capital Expenditures -$3.900M $200.0K -$1.790M
Free Cash Flow $13.38M $8.610M $8.150M
YoY Change 64.17% -37.34% -32.14%

Facts In Submission

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1746000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3133000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3489000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-792000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-156000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1476000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
507000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2044000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4035000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1457000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4218000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-801000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-428000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
448000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
27000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
27286000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
25432000 USD
salm Payment For Capital Expenditures Reimbursable Under Tenant Improvement Allowances And Trade Agreements
PaymentForCapitalExpendituresReimbursableUnderTenantImprovementAllowancesAndTradeAgreements
279000 USD
salm Payment For Capital Expenditures Reimbursable Under Tenant Improvement Allowances And Trade Agreements
PaymentForCapitalExpendituresReimbursableUnderTenantImprovementAllowancesAndTradeAgreements
2735000 USD
salm Payment For Capital Expenditures Net Of Tenant Improvement Allowances
PaymentForCapitalExpendituresNetOfTenantImprovementAllowances
6317000 USD
salm Capital Expenditures Reimbursable Under Tenant Improvement Allowances
CapitalExpendituresReimbursableUnderTenantImprovementAllowances
279000 USD
salm Capital Expenditures Reimbursable Under Tenant Improvement Allowances
CapitalExpendituresReimbursableUnderTenantImprovementAllowances
2709000 USD
salm Non Cash Capital Expenditures For Property And Equipment Acquired Under Trade Agreements
NonCashCapitalExpendituresForPropertyAndEquipmentAcquiredUnderTradeAgreements
20000 USD
salm Non Cash Capital Expenditures For Property And Equipment Acquired Under Trade Agreements
NonCashCapitalExpendituresForPropertyAndEquipmentAcquiredUnderTradeAgreements
USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
USD
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
120000 USD
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
112000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
4570000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
8686000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
10000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
271000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
429000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-18977000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-22598000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
14000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
USD
salm Payments Of Contingent Earn Out Consideration
PaymentsOfContingentEarnOutConsideration
300000 USD
salm Payments Of Contingent Earn Out Consideration
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1193000 USD
us-gaap Proceeds From Stock Options Exercised
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1095000 USD
us-gaap Proceeds From Stock Options Exercised
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314000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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92000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4537000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4956000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
276000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-2681000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
246000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
153000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65000 USD
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
311000 USD
us-gaap Interest Paid
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us-gaap Interest Paid
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10675000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
254000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
327000 USD
salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
4919000 USD
salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
4701000 USD
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
4358000 USD
salm Net Present Value Of Contingent Consideration
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2047000 USD
salm Net Present Value Of Contingent Consideration
NetPresentValueOfContingentConsideration
300000 USD
salm Net Present Value Of Deferred Cash Payments Current
NetPresentValueOfDeferredCashPaymentsCurrent
2392000 USD
salm Net Present Value Of Deferred Cash Payments Current
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salm Net Present Value Of Deferred Cash Payments Non Current
NetPresentValueOfDeferredCashPaymentsNonCurrent
2289000 USD
salm Net Present Value Of Deferred Cash Payments Non Current
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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salm Payment For Capital Expenditures Net Of Tenant Improvement Allowances
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7631000 USD
CY2015Q3 salm Business Combination Contingent Consideration Arrangements Payment
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
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salm Percentage Of Intangible Assets
PercentageOfIntangibleAssets
0.70 pure
salm Intangible Assets License Renewal Period
IntangibleAssetsLicenseRenewalPeriod
P8Y
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
394000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5237 pure
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0270 pure
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
13380000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
300000 USD
CY2015Q3 salm Business Acquisition Initial Purchase Price
BusinessAcquisitionInitialPurchasePrice
13015000 USD
CY2015Q3 salm Business Acquisition Escrow Deposits Previously Paid
BusinessAcquisitionEscrowDepositsPreviouslyPaid
65000 USD
CY2015Q3 salm Business Acquisition Deferred Cash Payment After Two Years
BusinessAcquisitionDeferredCashPaymentAfterTwoYears
176000 USD
CY2015Q3 salm Business Acquisition Deferred Cash Payment After Three Years
BusinessAcquisitionDeferredCashPaymentAfterThreeYears
124000 USD
CY2015Q3 salm Business Acquisition Cost Of Acquired Entity Cash Paid And Due
BusinessAcquisitionCostOfAcquiredEntityCashPaidAndDue
13380000 USD
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
200000 USD
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
CY2015Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
272183000 USD
CY2014Q4 salm Long Term Debt And Capital Lease Obligations Current And Noncurrent
LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent
277505000 USD
CY2015Q3 salm Long Term Debt And Capital Lease Obligations Current And Noncurrent
LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent
279845000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
salm Fair Value Business Combination Contingent Consideration
FairValueBusinessCombinationContingentConsideration
300000 USD
salm Accretion Of Acquisition Related Contingent Consideration
AccretionOfAcquisitionRelatedContingentConsideration
86000 USD
salm Reclassification From Long Term Borrowing To Shortterm Borrowing
ReclassificationFromLongTermBorrowingToShorttermBorrowing
USD
salm Business Combination Contingent Consideration Arrangements Payment
BusinessCombinationContingentConsiderationArrangementsPayment
-1193000 USD
CY2015Q3 salm Business Acquisition Contingent Consideration At Present Value
BusinessAcquisitionContingentConsiderationAtPresentValue
1686000 USD
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 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
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
CY2015Q2 salm Business Acquisition Contingent Consideration At Present Value
BusinessAcquisitionContingentConsiderationAtPresentValue
2276000 USD
CY2015Q3 salm Accretion Of Acquisition Related Contingent Consideration
AccretionOfAcquisitionRelatedContingentConsideration
29000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
263000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
766000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
657000 USD
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
143208 shares
salm Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
1.35
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
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1628534 shares
CY2015Q3 salm Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsWeightedAverageGrantDateFairValue
3.40
salm Share Based Compensation Arrangements By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y6M
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2769000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.93
CY2015Q3 salm Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
3.55
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y6M
CY2014Q4 us-gaap Debt Current
DebtCurrent
1898000 USD
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1648000 USD
CY2015Q3 salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestNumber
608679 shares
CY2015Q3 salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageExercisePrice
4.81
salm Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue
3.16
salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageRemainingContractualTerm
P5Y10M24D
CY2015Q3 salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected Tovested Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedTovestedAggregateIntrinsicValue
1065000 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
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
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
61000 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
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
10000 shares
CY2015Q3 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
P6M
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
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AllocatedShareBasedCompensationExpenseNetOfTax
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pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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pure
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P1Y1M6D
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
200000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
700000 USD
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7662000 USD
us-gaap Operating Expenses
OperatingExpenses
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OperatingExpenses
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CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
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259757000 USD
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IntangibleAssetsGrossExcludingGoodwill
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FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1347000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
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CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
2414000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
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CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
1742000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
1206000 USD
CY2015Q3 us-gaap Accounts Payable Fair Value Disclosure
AccountsPayableFairValueDisclosure
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12245000 USD
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1887329 shares
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729560 shares
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
447689 shares
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CashAndCashEquivalentsFairValueDisclosure
186000 USD
CY2015Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
2011000 USD
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UnrecognizedTaxBenefits
500000 USD
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UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
20000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
20000 USD
CY2015Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3000000 USD
CY2015Q3 us-gaap Guarantees Fair Value Disclosure
GuaranteesFairValueDisclosure
0 USD
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IntangibleAssetsNetExcludingGoodwill
12395000 USD
salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
36463000 USD
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OperatingIncomeLossBeforeDepreciationAndAmortization
14056000 USD
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CostOfServicesDepreciation
3141000 USD
salm Broadcast Expenses Net
BroadcastExpensesNet
104511000 USD
salm Digital Expenses Net
DigitalExpensesNet
27138000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
43000 USD
us-gaap Interest Expense
InterestExpense
11986000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.18
dei Entity Registrant Name
EntityRegistrantName
SALEM MEDIA GROUP, INC. /DE/
dei Entity Central Index Key
EntityCentralIndexKey
0001050606
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Trading Symbol
TradingSymbol
SALM
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
487000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
81000 USD
CY2015Q3 us-gaap Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
1.00 pure
CY2014Q4 us-gaap Land Available For Sale
LandAvailableForSale
1700000 USD
CY2015Q3 us-gaap Land Available For Sale
LandAvailableForSale
1700000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8777000 USD
CY2015Q3 us-gaap Interest Payable Current
InterestPayableCurrent
54000 USD
CY2015Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1623000 USD
salm Net Broadcast Revenue
NetBroadcastRevenue
144144000 USD
salm Broadcast Expenses Net
BroadcastExpensesNet
103563000 USD
CY2014Q3 salm Net Broadcast Revenue
NetBroadcastRevenue
48246000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
67491000 USD
CY2014Q3 salm Publishing Expenses Net
PublishingExpensesNet
8252000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
2077000 USD
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
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25536397 shares
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GainsLossesOnExtinguishmentOfDebt
-18000 USD
us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
78000 USD
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IncreaseDecreaseInAccountsReceivable
-1896000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-154000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
87000 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
3111000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-8063000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
1905000 USD
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
4827000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
300000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
USD
CY2014Q4 salm Business Acquisition Contingent Consideration At Present Value
BusinessAcquisitionContingentConsiderationAtPresentValue
3285000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
400000 USD
salm Number Of Stock Option Plans
NumberOfStockOptionPlans
1 OptionPlan
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
510000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7498 pure
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.19
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.88
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
987484 shares
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
5.83
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
61000 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2014Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
300000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1300000 USD
CY2015Q3 us-gaap Debt Current
DebtCurrent
7662000 USD
CY2015Q3 us-gaap Accounts Receivable Fair Value Disclosure
AccountsReceivableFairValueDisclosure
36855000 USD
CY2015Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
272183000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
-400000 USD
CY2015Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
12698000 USD
salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
36901000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
54831000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
55552000 USD
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Type
DocumentType
10-Q

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