2013 Q3 Form 10-Q Financial Statement

#000119312513434766 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $58.48M $56.72M
YoY Change 3.1% 4.07%
Cost Of Revenue $40.79M $39.43M
YoY Change 3.45% 6.08%
Gross Profit $17.68M $17.29M
YoY Change 2.26% -0.29%
Gross Profit Margin 30.23% 30.48%
Selling, General & Admin $4.950M $4.640M
YoY Change 6.68% 8.16%
% of Gross Profit 28.0% 26.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.780M $3.580M
YoY Change 5.59% -4.02%
% of Gross Profit 21.38% 20.71%
Operating Expenses $45.74M $44.08M
YoY Change 3.78% 6.33%
Operating Profit $8.974M $8.479M
YoY Change 5.84% -8.69%
Interest Expense $3.770M $6.127M
YoY Change -38.47% -10.24%
% of Operating Profit 42.01% 72.26%
Other Income/Expense, Net $4.000K $60.00K
YoY Change -93.33% 1900.0%
Pretax Income $4.175M $2.436M
YoY Change 71.39% 9.98%
Income Tax -$1.159M -$971.0K
% Of Pretax Income -27.76% -39.86%
Net Earnings $5.323M $3.368M
YoY Change 58.05% 126.8%
Net Earnings / Revenue 9.1% 5.94%
Basic Earnings Per Share $0.21 $0.13
Diluted Earnings Per Share $0.21 $0.13
COMMON SHARES
Basic Shares Outstanding 25.13M shares 24.66M shares
Diluted Shares Outstanding 25.92M shares 25.36M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.400M $200.0K
YoY Change 600.0%
Cash & Equivalents $1.426M $195.0K
Short-Term Investments
Other Short-Term Assets $12.00M $13.80M
YoY Change -13.04% 31.43%
Inventory
Prepaid Expenses $4.040M $3.904M
Receivables $34.51M $33.17M
Other Receivables $1.910M $376.0K
Total Short-Term Assets $49.84M $47.58M
YoY Change 4.75% 12.48%
LONG-TERM ASSETS
Property, Plant & Equipment $98.76M $100.7M
YoY Change -1.9% -10.44%
Goodwill $22.00M $21.33M
YoY Change 3.15%
Intangibles $8.136M $6.484M
YoY Change 25.48%
Long-Term Investments
YoY Change
Other Assets $1.944M $1.506M
YoY Change 29.08% -77.85%
Total Long-Term Assets $521.3M $511.5M
YoY Change 1.9% -1.8%
TOTAL ASSETS
Total Short-Term Assets $49.84M $47.58M
Total Long-Term Assets $521.3M $511.5M
Total Assets $571.1M $559.1M
YoY Change 2.15% -0.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.105M $2.684M
YoY Change 15.69% 22.0%
Accrued Expenses $7.168M $5.587M
YoY Change 28.3% -71.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $15.00M
YoY Change -100.0%
Long-Term Debt Due $3.100M $5.100M
YoY Change -39.22% 5000.0%
Total Short-Term Liabilities $30.34M $49.88M
YoY Change -39.17% 67.39%
LONG-TERM LIABILITIES
Long-Term Debt $290.8M $250.5M
YoY Change 16.09% -9.76%
Other Long-Term Liabilities $20.00K $29.00K
YoY Change -31.03% -99.64%
Total Long-Term Liabilities $20.00K $29.00K
YoY Change -31.03% -99.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.34M $49.88M
Total Long-Term Liabilities $20.00K $29.00K
Total Liabilities $372.9M $355.1M
YoY Change 5.02% -1.6%
SHAREHOLDERS EQUITY
Retained Earnings -$4.711M $4.677M
YoY Change -200.73%
Common Stock $236.6M $233.0M
YoY Change 1.53%
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 $198.2M $204.0M
YoY Change
Total Liabilities & Shareholders Equity $571.1M $559.1M
YoY Change 2.15% -0.73%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $5.323M $3.368M
YoY Change 58.05% 126.8%
Depreciation, Depletion And Amortization $3.780M $3.580M
YoY Change 5.59% -4.02%
Cash From Operating Activities $9.450M $9.610M
YoY Change -1.66% -3.12%
INVESTING ACTIVITIES
Capital Expenditures -$2.560M -$1.560M
YoY Change 64.1% -3.11%
Acquisitions
YoY Change
Other Investing Activities -$860.0K -$4.170M
YoY Change -79.38% 5112.5%
Cash From Investing Activities -$3.430M -$5.720M
YoY Change -40.03% 240.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $4.000M
YoY Change
Cash From Financing Activities -4.680M -3.990M
YoY Change 17.29% -58.35%
NET CHANGE
Cash From Operating Activities 9.450M 9.610M
Cash From Investing Activities -3.430M -5.720M
Cash From Financing Activities -4.680M -3.990M
Net Change In Cash 1.340M -100.0K
YoY Change -1440.0% -92.54%
FREE CASH FLOW
Cash From Operating Activities $9.450M $9.610M
Capital Expenditures -$2.560M -$1.560M
Free Cash Flow $12.01M $11.17M
YoY Change 7.52% -3.12%

Facts In Submission

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10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001050606
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
735750 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0106 pure
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24832140 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0078 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
794553 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
shares
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
21376000
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-03-18
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
79810 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y7M6D
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
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
30000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0205 pure
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>NOTE 6. RECENT ACCOUNTING PRONOUNCEMENTS</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Changes to accounting principles are established by the FASB in the form of accounting standards updates (&#x201C;ASU&#x2019;s&#x201D;) to the FASB&#x2019;s Accounting Standards Codification. We consider the applicability and impact of all ASU&#x2019;s. ASU&#x2019;s not listed below were assessed and determined to be not applicable to our financial position or results of operations.</p> <p style="margin-top:0pt;margin-bottom:0pt;page-break-before:always"></p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In July 2013, the FASB issued ASU 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, an amendment to FASB ASC Topic 740, Income Taxes, (&#x201C;FASB ASU 2013-11&#x201D;). This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December&#xA0;15, 2013. Retrospective application is permitted. We are currently evaluating the impact, if any, that the adoption of this pronouncement may have on our financial position, results of operations, cash flows, or presentation thereof.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In July 2013, the FASB issued ASU 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes, an amendment to FASB ASC Topic 815, Derivatives and Hedging (&#x201C;FASB ASC Topic 815&#x201D;). The update permits the use of the Fed Funds Effective Swap Rate to be used as a US benchmark interest rate for hedge accounting purposes under FASB ASC Topic 815, in addition to the interest rates on direct Treasury obligations of the US government (&#x201C;UST&#x201D;) and the London Interbank Offered Rate (&#x201C;LIBOR&#x201D;). The update also removes the restriction on using different benchmark rates for similar hedges. This ASU is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July&#xA0;17, 2013.&#xA0;We do not expect the impact of adopting this ASU to be material to our financial position, results of operations, cash flows, or presentation thereof.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In February 2013, the FASB issued ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date, an amendment to FASB ASC Topic 405, Liabilities (&#x201C;FASB ASC Topic 405&#x201D;). The update requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed as of the reporting date as the sum of the obligation the entity agreed to pay among its co-obligors and any additional amount the entity expects to pay on behalf of its co-obligors. This ASU is effective for annual and interim periods beginning after December&#xA0;15, 2013 and is required to be applied retrospectively to all prior periods presented for those obligations that existed upon adoption of the ASU. We do not expect the impact of adopting this ASU to be material to our financial position, results of operations, cash flows, or presentation thereof.</p> </div>
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.32
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
283405 shares
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Reclassifications</b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation.</p> </div>
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.32
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
12.08
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Use of Estimates</b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; 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)&#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.</p> </div>
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.42
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
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24832140 shares
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
250000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
83424 shares
us-gaap Sales Revenue Net
SalesRevenueNet
174240000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7792000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2545000
us-gaap Investment Income Interest
InvestmentIncomeInterest
52000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13549000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
117000
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
79810 shares
us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
Ten
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
4384000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2474000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
707000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
213500000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-26000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
87220000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-117000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
7000000
us-gaap Cost Of Services Amortization
CostOfServicesAmortization
2076000
us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
9313000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3756000
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
54000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-27792000
us-gaap Interest Paid
InterestPaid
13384000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1717000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
860000
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-170000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
11000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
26052000
us-gaap Operating Income Loss
OperatingIncomeLoss
24843000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
15000000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
20000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-8043000
us-gaap Net Income Loss
NetIncomeLoss
-8069000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-148000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
92000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1500000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-43000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
611000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-4858000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5815000
us-gaap Costs And Expenses
CostsAndExpenses
149397000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15839000
us-gaap Share Based Compensation
ShareBasedCompensation
1529000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2490000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1046000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-15446000
us-gaap Operating Expenses
OperatingExpenses
137245000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5506000
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-196000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4148000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
918000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1201
us-gaap Interest Expense
InterestExpense
13212000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-75000
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
345000
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-17000
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-26000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-9000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
978000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
46747000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
319012000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11389000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
682000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
438000
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-26000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
97000
salm Net Broadcast Revenue
NetBroadcastRevenue
136287000
salm Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
2.36
salm Interest Expenses Amortization Period
InterestExpensesAmortizationPeriod
P10Y
salm Broadcast Expenses Net
BroadcastExpensesNet
91258000
salm Publishing Expenses Net
PublishingExpensesNet
9776000
salm Internet Revenue
InternetRevenue
29012000
salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageRemainingContractualTerm
P6Y7M6D
salm Publishing Revenue
PublishingRevenue
8941000
salm Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
994
salm Interest Paid To Related Party
InterestPaidToRelatedParty
296000
salm Allowance For Doubtful Accounts And Advertiser Credits
AllowanceForDoubtfulAccountsAndAdvertiserCredits
600000
salm Number Of Stock Option Plans
NumberOfStockOptionPlans
1 OptionPlan
salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageGrantDateFairValue
7.31
salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodIntrinsicValue
59
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
salm Internet Expenses Net
InternetExpensesNet
20372000
salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
36995000
salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
3962000
salm Payment Of Premiums For Debt Extinguishment
PaymentOfPremiumsForDebtExtinguishment
22677000
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
3261000
salm Share Based Compensation Arrangement By Share Based Payment Awards Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardsOptionsVestedInPeriodFairValue
800000
salm Net Present Value Of Advertising Credits Payable
NetPresentValueOfAdvertisingCreditsPayable
2427000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0166 pure
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24893832 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0240 pure
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
695025 shares
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
22361000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P8Y2M12D
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0507 pure
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.10
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.10
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24528091 shares
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
us-gaap Sales Revenue Net
SalesRevenueNet
168629000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6407000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-110000
us-gaap Investment Income Interest
InvestmentIncomeInterest
83000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
745000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
110000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
246000
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
148000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2558000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
3165000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
17500000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-94000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
101813000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
71000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
3330000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-893000
us-gaap Interest Paid
InterestPaid
12417000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1579000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
509000
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
250000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
22000
us-gaap Operating Income Loss
OperatingIncomeLoss
20271000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
12000000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-563000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2513000
us-gaap Net Income Loss
NetIncomeLoss
2419000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-134000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
93000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1000000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-156000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
430000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-9849000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2041000
us-gaap Costs And Expenses
CostsAndExpenses
148358000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14314000
us-gaap Share Based Compensation
ShareBasedCompensation
995000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1860000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
128000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-12384000
us-gaap Operating Expenses
OperatingExpenses
131412000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1768000
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
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