$SALM
SALEM MEDIA GROUP, INC. /DE/

2013 Q1 Form 10-Q Financial Statement

#000119312513214441 Filed on May 10, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $55.63M $54.28M
YoY Change 2.48% 6.1%
Cost Of Revenue $39.43M $38.04M
YoY Change 3.65% 7.09%
Gross Profit $16.20M $16.25M
YoY Change -0.31% 3.83%
Gross Profit Margin 29.12% 29.94%
Selling, General & Admin $5.800M $4.870M
YoY Change 19.1% 7.03%
% of Gross Profit 35.8% 29.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.815M $3.619M
YoY Change 5.42% -2.22%
% of Gross Profit 23.55% 22.27%
Operating Expenses $45.23M $42.90M
YoY Change 5.41% 419.42%
Operating Profit $6.582M $7.930M
YoY Change -17.0% -33.46%
Interest Expense $5.723M $6.396M
YoY Change -10.52% -11.6%
% of Operating Profit 86.95% 80.66%
Other Income/Expense, Net $6.000K $7.000K
YoY Change -14.29% -163.64%
Pretax Income -$27.26M $1.572M
YoY Change -1834.35% -66.66%
Income Tax -$8.682M $687.0K
% Of Pretax Income 43.7%
Net Earnings -$18.59M $843.0K
YoY Change -2305.58% -67.41%
Net Earnings / Revenue -33.42% 1.55%
Basic Earnings Per Share -$0.75 $0.04
Diluted Earnings Per Share -$0.75 $0.04
COMMON SHARES
Basic Shares Outstanding 24.63M shares 24.56M shares
Diluted Shares Outstanding 24.63M shares 24.75M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $300.0K
YoY Change -66.67% 0.0%
Cash & Equivalents $123.0K $312.0K
Short-Term Investments
Other Short-Term Assets $23.80M $10.50M
YoY Change 126.67% 8.25%
Inventory
Prepaid Expenses $3.883M $3.603M
Receivables $36.11M $30.50M
Other Receivables $694.0K $850.0K
Total Short-Term Assets $60.73M $42.14M
YoY Change 44.14% 8.88%
LONG-TERM ASSETS
Property, Plant & Equipment $99.49M $111.8M
YoY Change -10.98% -2.99%
Goodwill $22.42M $20.10M
YoY Change 11.56%
Intangibles $8.791M $5.881M
YoY Change 49.48%
Long-Term Investments
YoY Change
Other Assets $1.608M $1.269M
YoY Change 26.71% -88.36%
Total Long-Term Assets $521.2M $519.8M
YoY Change 0.27% -1.89%
TOTAL ASSETS
Total Short-Term Assets $60.73M $42.14M
Total Long-Term Assets $521.2M $519.8M
Total Assets $581.9M $561.9M
YoY Change 3.56% -1.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.071M $4.121M
YoY Change -25.48% 52.63%
Accrued Expenses $6.533M $5.191M
YoY Change 25.85% -71.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.300M $100.0K
YoY Change 3200.0% 0.0%
Total Short-Term Liabilities $31.12M $30.41M
YoY Change 2.34% 4.15%
LONG-TERM LIABILITIES
Long-Term Debt $303.4M $271.0M
YoY Change 11.96% -6.03%
Other Long-Term Liabilities $20.00K $29.00K
YoY Change -31.03% -99.63%
Total Long-Term Liabilities $20.00K $29.00K
YoY Change -31.03% -99.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.12M $30.41M
Total Long-Term Liabilities $20.00K $29.00K
Total Liabilities $394.7M $358.6M
YoY Change 10.09% -2.86%
SHAREHOLDERS EQUITY
Retained Earnings -$14.00M $4.809M
YoY Change -391.02%
Common Stock $234.9M $232.3M
YoY Change 1.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.01M $34.01M
YoY Change 0.0%
Treasury Stock Shares 2.318M shares 2.318M shares
Shareholders Equity $187.2M $203.4M
YoY Change
Total Liabilities & Shareholders Equity $581.9M $561.9M
YoY Change 3.56% -1.15%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$18.59M $843.0K
YoY Change -2305.58% -67.41%
Depreciation, Depletion And Amortization $3.815M $3.619M
YoY Change 5.42% -2.22%
Cash From Operating Activities $1.840M $10.32M
YoY Change -82.17% 2.28%
INVESTING ACTIVITIES
Capital Expenditures $2.343M $2.761M
YoY Change -15.14% 14.47%
Acquisitions
YoY Change
Other Investing Activities $26.00K $15.00K
YoY Change 73.33% -96.73%
Cash From Investing Activities -$7.915M -$4.080M
YoY Change 94.0% -216.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.820M -6.000M
YoY Change -197.0% -57.63%
NET CHANGE
Cash From Operating Activities 1.840M 10.32M
Cash From Investing Activities -7.915M -4.080M
Cash From Financing Activities 5.820M -6.000M
Net Change In Cash -7.915M 240.0K
YoY Change -3397.92% -142.11%
FREE CASH FLOW
Cash From Operating Activities $1.840M $10.32M
Capital Expenditures $2.343M $2.761M
Free Cash Flow -$503.0K $7.559M
YoY Change -106.65% -1.55%

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CY2013Q1 us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
3122000
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
CY2013Q1 us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassifications</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation.</font></p> </div>
CY2013Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-27721000
CY2013Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-12000
CY2013Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-9000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6582000
CY2013Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
328000
CY2013Q1 us-gaap Repayments Of Senior Debt
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CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y3M18D
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000
CY2013Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-18582000
CY2013Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-4000
CY2013Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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-16000
CY2013Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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800000
CY2013Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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-12000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
79810 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0205 pure
CY2013Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
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CY2013Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
307037000
CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3815000
CY2013Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
24070000
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
820000
CY2013Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.93
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1849000
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.75
CY2013Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3631000
CY2013Q1 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
970000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
12.39
CY2013Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
802000
CY2013Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
47041 shares
CY2013Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-04-01
CY2013Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
CY2013Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
4537000
CY2013Q1 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-424000
CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y7M6D
CY2013Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
129000
CY2013Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
21000
CY2013Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1569000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
79810 shares
CY2013Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.73
CY2013Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
87220000
CY2013Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
343000
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-11000
CY2013Q1 us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
Ten
CY2013Q1 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
16000
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2343000
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-257000
CY2013Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
15000000
CY2013Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5796000
CY2013Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1234000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
6.02
CY2013Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
703000
CY2013Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>NOTE 6. RECENT ACCOUNTING PRONOUNCEMENTS</b></font></p> <p style="margin-top:6px;margin-bottom:0px; margin-right:4%; text-indent:4%;padding-bottom:0px;"> <font style="font-family:Times New Roman" size="2">In January 2013, the FASB issued Accounting Standard Update 2013-01, &#x201C;Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities&#x201D; (&#x201C;ASU 2013-01&#x201D;). The Update clarifies that ordinary trade receivables and receivables are not in the scope of Accounting Standards Update No.&#xA0;2011-11,&#xA0;Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities. Specifically, Update 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in&#xA0;FASB Accounting Standards Codification<font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">&#xAE;</sup></font>&#xA0;or subject to a master netting arrangement or similar agreement. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning on or after January&#xA0;1, 2013. The adoption of ASU 2013-01 did not have a material impact on our financial position, results of operations or cash flows.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">In February 2013, the FASB issued an amendment to update ASU 2013-02 ASC 220, &#x201C;Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.&#x201D; Under the amendment, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income (&#x201C;AOCI&#x201D;) by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The amendments are effective prospectively for reporting periods beginning after December&#xA0;15, 2012. The adoption of ASC 220 did not have a material impact on our financial position, results of operations or cash flows.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">In October 2012, the FASB issued ASU 2012-04, &#x201C;Technical Corrections and Improvements.&#x201D; The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December&#xA0;15, 2012. The adoption of ASU 2012-04 did not have a material impact on our financial position, results of operations or cash flows.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">In December 2011, the FASB issued ASU 2011-11, &#x201C;Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities.&#x201D; This ASU requires us to disclose both net and gross information about assets and liabilities that have been offset, if any, and the related arrangements. The disclosures under this new guidance are required to be provided retrospectively for all comparative periods presented. We are required to apply the amendments for annual reporting periods beginning on or after January&#xA0;1, 2013, and interim periods within those annual periods. The adoption of ASU 2011-11 did not have a material impact on our financial position, results of operations or cash flows.</font></p> </div>
CY2013Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
7000000
CY2013Q1 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
6.02
CY2013Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2013Q1 us-gaap Cost Of Services Amortization
CostOfServicesAmortization
693000
CY2013Q1 us-gaap Notes Issued1
NotesIssued1
2000000
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24632431 shares
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
55628000
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1070000
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.75
CY2013Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2013Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-5000
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.75
CY2013Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
3881000
CY2013Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
492000
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
45227000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0078 pure
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24632431 shares
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
675808 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
35775 shares
CY2013Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23000
CY2013Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.05
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
26000
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27264000
CY2013Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
3013-03-25
CY2013Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-03-18
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
7821000
CY2013Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
31000
CY2013Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-47000
CY2013Q1 us-gaap Interest Paid
InterestPaid
5895000
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-9915000
CY2013Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-8694000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-18593000
CY2013Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
2000000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
735750 shares
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8682000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
500000
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.75
CY2013Q1 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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, but are not limited to: (1)&#xA0;asset impairments, including broadcasting licenses and goodwill; (2)&#xA0;income tax valuation allowances; (3)&#xA0;uncertain tax positions; (4)&#xA0;allowance for doubtful accounts; (5)&#xA0;self-insurance reserves; (6)&#xA0;fair value of equity awards; (7)&#xA0;estimated lives for tangible and intangible assets; (8)&#xA0;fair value measurements; and (9)&#xA0;contingency reserves. 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 necessary.</font></p> </div>
CY2013Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-429000
CY2013Q1 us-gaap Interest Expense
InterestExpense
5723000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.90
CY2013Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-14000
CY2013Q1 salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageRemainingContractualTerm
P7Y
CY2013Q1 salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodTotalIntrinsicValue
CY2013Q1 salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
10401000
CY2013Q1 salm Net Broadcast Revenue
NetBroadcastRevenue
43247000
CY2013Q1 salm Internet Revenue
InternetRevenue
9716000
CY2013Q1 salm Publishing Revenue
PublishingRevenue
2665000
CY2013Q1 salm Broadcast Expenses Net
BroadcastExpensesNet
29567000
CY2013Q1 salm Internet Expenses Net
InternetExpensesNet
6841000
CY2013Q1 salm Publishing Expenses Net
PublishingExpensesNet
3023000
CY2013Q1 salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
1109000
CY2013Q1 salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
1085000
CY2013Q1 salm Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
CY2013Q1 salm Number Of Stock Option Plans
NumberOfStockOptionPlans
1 OptionPlan
CY2013Q1 salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageGrantDateFairValue
7.62
CY2013Q1 salm Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
8.17
CY2013Q1 salm Debt Instrument Termination Date
DebtInstrumentTerminationDate
March 14, 2013
CY2013Q1 salm Interest Expenses Amortization Period
InterestExpensesAmortizationPeriod
P10Y
CY2013Q1 salm Cash Dividend Paid
CashDividendPaid
1200000
CY2013Q1 salm Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue
3.28
CY2013Q1 salm Allowance For Doubtful Accounts And Advertiser Credits
AllowanceForDoubtfulAccountsAndAdvertiserCredits
600000
CY2013Q1 salm Interest Paid To Related Party
InterestPaidToRelatedParty
296000
CY2012Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
CY2012Q1 us-gaap Costs And Expenses
CostsAndExpenses
46354000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0166 pure
CY2012Q1 us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
3030000
CY2012Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
CY2012Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
4000
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7930000
CY2012Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
143000
CY2012Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7000
CY2012Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
885000
CY2012Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
169000
CY2012Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-70000
CY2012Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
300000
CY2012Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
4000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0507 pure
CY2012Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-1428000
CY2012Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3619000
CY2012Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
31774000
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
327000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
10317000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2012Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3761000
CY2012Q1 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-110000
CY2012Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
417000
CY2012Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
-2000
CY2012Q1 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
30000
CY2012Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P8Y2M12D
CY2012Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
765000
CY2012Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
11000
CY2012Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
31000
CY2012Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1297000
CY2012Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
26464000
CY2012Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
322000
CY2012Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-42000
CY2012Q1 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
68000
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2761000
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
245000
CY2012Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
9000000
CY2012Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4867000
CY2012Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
850000
CY2012Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
208000
CY2012Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
2150000
CY2012Q1 us-gaap Cost Of Services Amortization
CostOfServicesAmortization
589000
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24753671 shares
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
54284000
CY2012Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1964000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2012Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
30000
CY2012Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-28000
CY2012Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.04
CY2012Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
8000
CY2012Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
184000
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
42904000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0240 pure
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24564947 shares
CY2012Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
188724 shares
CY2012Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8000
CY2012Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.04
CY2012Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
15000
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1572000
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-5995000
CY2012Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
30000
CY2012Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-45000
CY2012Q1 us-gaap Interest Paid
InterestPaid
410000
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4081000
CY2012Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
644000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
843000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
687000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
500000
CY2012Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.04
CY2012Q1 us-gaap Interest Expense
InterestExpense
6396000
CY2012Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
7000
CY2012Q1 salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
11380000
CY2012Q1 salm Net Broadcast Revenue
NetBroadcastRevenue
43957000
CY2012Q1 salm Internet Revenue
InternetRevenue
7434000
CY2012Q1 salm Publishing Revenue
PublishingRevenue
2893000
CY2012Q1 salm Broadcast Expenses Net
BroadcastExpensesNet
29142000
CY2012Q1 salm Internet Expenses Net
InternetExpensesNet
5924000
CY2012Q1 salm Publishing Expenses Net
PublishingExpensesNet
2971000
CY2012Q1 salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
1047000
CY2012Q1 salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
1114000
CY2012Q1 salm Interest Paid To Related Party
InterestPaidToRelatedParty
113000

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