$SALM
SALEM MEDIA GROUP, INC. /DE/

2014 Q3 Form 10-Q Financial Statement

#000119312514402917 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q1 2013 Q4
Revenue $69.61M $62.34M $62.69M
YoY Change 19.04% 12.07% 3.54%
Cost Of Revenue $51.67M $47.20M $48.47M
YoY Change 26.67% 19.71% 20.54%
Gross Profit $17.94M $15.14M $14.22M
YoY Change 1.47% -6.54% -30.09%
Gross Profit Margin 25.77% 24.28% 22.68%
Selling, General & Admin $3.880M $5.060M $240.0K
YoY Change -21.62% -12.76% -94.76%
% of Gross Profit 21.63% 33.42% 1.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.670M $4.737M $3.870M
YoY Change 23.54% 24.17% 0.0%
% of Gross Profit 26.03% 31.29% 27.22%
Operating Expenses $55.55M $52.27M $4.120M
YoY Change 21.44% 15.56% -51.3%
Operating Profit $8.847M $5.331M $9.690M
YoY Change -1.42% -19.01% -5.18%
Interest Expense $4.139M $3.779M -$3.030M
YoY Change 9.79% -33.97% -50.33%
% of Operating Profit 46.78% 70.89% -31.27%
Other Income/Expense, Net $572.0K $66.00K $0.00
YoY Change 14200.0% 1000.0% -100.0%
Pretax Income $6.310M $529.0K $6.660M
YoY Change 51.14% -101.94% 69.47%
Income Tax $2.567M $98.00K $1.310M
% Of Pretax Income 40.68% 18.53% 19.67%
Net Earnings $3.743M $431.0K $5.333M
YoY Change -29.68% -102.32% 165.46%
Net Earnings / Revenue 5.38% 0.69% 8.51%
Basic Earnings Per Share $0.14 $0.02 $0.21
Diluted Earnings Per Share $0.14 $0.02 $0.21
COMMON SHARES
Basic Shares Outstanding 25.54M shares 25.06M shares 25.26M shares
Diluted Shares Outstanding 26.27M shares 25.88M shares 26.05M shares

Balance Sheet

Concept 2014 Q3 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.0K $300.0K $100.0K
YoY Change -78.57% 200.0% -75.0%
Cash & Equivalents $311.0K $278.0K $65.00K
Short-Term Investments
Other Short-Term Assets $15.00M $14.20M $12.60M
YoY Change 25.0% -40.34% 2.44%
Inventory $626.0K $564.0K
Prepaid Expenses $6.396M $5.639M $4.049M
Receivables $40.17M $36.02M $37.63M
Other Receivables $3.332M $2.098M $720.0K
Total Short-Term Assets $59.41M $53.18M $51.05M
YoY Change 19.2% -12.44% 5.65%
LONG-TERM ASSETS
Property, Plant & Equipment $100.3M $99.64M $98.93M
YoY Change 1.56% 0.15% -0.54%
Goodwill $24.73M $2.300M $22.37M
YoY Change 12.39% -89.74% -0.04%
Intangibles $16.90M $8.793M
YoY Change 92.21% 0.46%
Long-Term Investments
YoY Change
Other Assets $2.100M $1.769M $2.096M
YoY Change 8.02% 10.01% 4.43%
Total Long-Term Assets $533.1M $535.8M $524.1M
YoY Change 2.28% 2.8% 1.99%
TOTAL ASSETS
Total Short-Term Assets $59.41M $53.18M $51.05M
Total Long-Term Assets $533.1M $535.8M $524.1M
Total Assets $592.6M $588.9M $575.1M
YoY Change 3.76% 1.21% 2.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.252M $3.897M $3.960M
YoY Change 69.15% 26.9% -24.7%
Accrued Expenses $13.32M $12.76M $7.888M
YoY Change 85.88% 95.32% 19.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $2.900M $2.400M $3.100M
YoY Change -6.45% -27.27% -39.22%
Total Short-Term Liabilities $42.72M $40.57M $31.78M
YoY Change 40.79% 30.36% -38.26%
LONG-TERM LIABILITIES
Long-Term Debt $283.5M $288.4M $287.7M
YoY Change -2.51% -4.94% 15.59%
Other Long-Term Liabilities $4.151M $4.076M $452.0K
YoY Change 20655.0% 20280.0% 1458.62%
Total Long-Term Liabilities $4.151M $4.076M $452.0K
YoY Change 20655.0% 20280.0% 1458.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.72M $40.57M $31.78M
Total Long-Term Liabilities $4.151M $4.076M $452.0K
Total Liabilities $387.4M $387.0M $373.3M
YoY Change 3.88% -1.95% 4.83%
SHAREHOLDERS EQUITY
Retained Earnings -$1.162M -$3.075M -$2.062M
YoY Change -75.33% -78.03% -135.36%
Common Stock $240.0M $238.7M $237.6M
YoY Change 1.45% 1.61% 1.54%
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 $205.1M $201.9M $201.8M
YoY Change
Total Liabilities & Shareholders Equity $592.6M $588.9M $575.1M
YoY Change 3.76% 1.21% 2.3%

Cashflow Statement

Concept 2014 Q3 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $3.743M $431.0K $5.333M
YoY Change -29.68% -102.32% 165.46%
Depreciation, Depletion And Amortization $4.670M $4.737M $3.870M
YoY Change 23.54% 24.17% 0.0%
Cash From Operating Activities $6.360M $10.30M $7.350M
YoY Change -32.7% 459.78% -15.71%
INVESTING ACTIVITIES
Capital Expenditures -$1.790M $3.010M -$2.850M
YoY Change -30.08% 28.47% 33.18%
Acquisitions
YoY Change
Other Investing Activities -$330.0K -$129.0K -$1.450M
YoY Change -61.63% -596.15% -68.06%
Cash From Investing Activities -$2.120M -$8.836M -$4.290M
YoY Change -38.19% 11.64% -35.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.160M -1.250M -4.420M
YoY Change -11.11% -121.48% 138.92%
NET CHANGE
Cash From Operating Activities 6.360M 10.30M 7.350M
Cash From Investing Activities -2.120M -8.836M -4.290M
Cash From Financing Activities -4.160M -1.250M -4.420M
Net Change In Cash 80.00K -8.836M -1.360M
YoY Change -94.03% 11.64% -855.56%
FREE CASH FLOW
Cash From Operating Activities $6.360M $10.30M $7.350M
Capital Expenditures -$1.790M $3.010M -$2.850M
Free Cash Flow $8.150M $7.290M $10.20M
YoY Change -32.14% -1549.3% -6.08%

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IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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UnrecognizedTaxBenefitsPeriodIncreaseDecrease
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UnrealizedGainLossOnDerivatives
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us-gaap Payments For Proceeds From Other Investing Activities
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OtherNonoperatingIncomeExpense
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IncomeLossFromContinuingOperations
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InvestmentIncomeInterest
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GainsLossesOnExtinguishmentOfDebt
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Interest Expense
InterestExpense
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us-gaap Operating Expenses
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CostsAndExpenses
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us-gaap Share Based Compensation
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us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
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IncreaseDecreaseInOtherOperatingLiabilities
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salm Net Broadcast Revenue
NetBroadcastRevenue
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salm Net Present Value Of Advertising Credits Payable
NetPresentValueOfAdvertisingCreditsPayable
2427000
salm Interest Paid To Related Party
InterestPaidToRelatedParty
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salm Net Publishing Revenue
NetPublishingRevenue
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salm Broadcast Expenses Net
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salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
36995000
salm Internet Expenses Net
InternetExpensesNet
20372000
salm Publishing Expenses Net
PublishingExpensesNet
9776000
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
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salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
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EarningsPerShareDiluted
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
SALEM COMMUNICATIONS CORP /DE/
dei Trading Symbol
TradingSymbol
SALM
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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 7. 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:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In August 2014, the FASB issued ASU 2014-15, <i>Disclosure of Uncertainties About an Entities Ability to Continue as a Going Concern</i>, which requires management to assess a company&#x2019;s ability to continue as a going concern and to provide related footnote disclosures. The new standard provides management with specific guidance on the assessments and related disclosures as well as provides a longer look-forward period as one year from the financial statement issuance date. The new standard is effective for the annual period ending after December&#xA0;15, 2016, with early adoption permitted. The adoption of this ASU is not expected to have a material impact 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 May 2014, the FASB issued ASU 2014-09, <i>Revenue from Contracts with Customers,</i> which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard is effective as of the first interim period within annual reporting periods beginning on or after December&#xA0;15, 2016, and will replace most existing revenue recognition guidance in U.S. GAAP. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of this ASU 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 April 2014, the FASB issued ASU 2014-08, <i>Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</i>. ASU 2014-08 limits the requirement to report discontinued operations to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity&#x2019;s operations and financial results. The amendments also require expanded disclosures concerning discontinued operations and disclosures of certain financial results attributable to a disposal of a significant component of an entity that does not qualify for discontinued operations reporting. These amendments are effective prospectively for reporting periods beginning on or after December&#xA0;15, 2014, with early adoption permitted. The adoption of this ASU is not expected to have a material impact on our financial position, results of operations, cash flows, or presentation thereof.</p> </div>
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.21
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0227 pure
us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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, goodwill and other indefinite-lived intangible assets; (2)&#xA0;income tax valuation allowances; (3)&#xA0;uncertain tax positions; (4)&#xA0;allowance for doubtful accounts; (5)&#xA0;inventory reserves; (6)&#xA0;reserves for royalty advances; (7)&#xA0;self-insurance reserves; (8)&#xA0;fair value of equity awards; (9)&#xA0;estimated lives for tangible and intangible assets; (10)&#xA0;fair value measurements; (11)&#xA0;contingency reserves; (12)&#xA0;probabilities associated with the potential for contingent earn-out consideration; and (13)&#xA0;sales returns and allowances. These estimates require the use of judgment as future events and the effect of these events cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and we may consult outside experts to assist as considered necessary.</p> </div>
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.18
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IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
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NumberOfOperatingSegments
3 Segment
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
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WeightedAverageNumberOfDilutedSharesOutstanding
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EarningsPerShareBasic
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IncomeLossFromContinuingOperationsPerBasicShare
0.21
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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GainLossOnDispositionOfAssets
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BusinessCombinationConsiderationTransferred1
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PaymentsToAcquireBusinessesGross
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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dei Entity Central Index Key
EntityCentralIndexKey
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IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7498 pure
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DocumentFiscalPeriodFocus
Q3
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation.</p> </div>
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
271000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-40000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25258025 shares
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UnrealizedGainLossOnDerivatives
-1423000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1800000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
254000
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RepaymentsOfLongTermCapitalLeaseObligations
92000
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
14000
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ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-78000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
510000
us-gaap Sales Revenue Net
SalesRevenueNet
200573000
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
120000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
588000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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PaymentsOfDividendsCommonStock
4537000
us-gaap Operating Income Loss
OperatingIncomeLoss
21669000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5437000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Income Loss
NetIncomeLoss
5437000
us-gaap Investment Income Interest
InvestmentIncomeInterest
43000
us-gaap Interest Paid
InterestPaid
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IncreaseDecreaseInAccountsReceivable
1476000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1300000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
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DeferredIncomeTaxExpenseBenefit
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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IncreaseDecreaseInDeferredRevenue
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us-gaap Interest Expense
InterestExpense
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OperatingExpenses
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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
27000
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ProvisionForDoubtfulAccounts
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us-gaap Accretion Expense
AccretionExpense
486000
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CashAndCashEquivalentsPeriodIncreaseDecrease
246000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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ProceedsFromRepaymentsOfBankOverdrafts
276000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-18977000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
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us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
300000
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
977000
us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
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IncreaseDecreaseInOtherOperatingLiabilities
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salm Debt Instruments Termination Date
DebtInstrumentsTerminationDate
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salm Fair Value Business Combination Contingent Consideration
FairValueBusinessCombinationContingentConsideration
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salm Accretion Of Acquisition Related Contingent Consideration
AccretionOfAcquisitionRelatedContingentConsideration
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salm Percentage Of Cash Distribution To Stockholders
PercentageOfCashDistributionToStockholders
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salm Number Of Stock Option Plans
NumberOfStockOptionPlans
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salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageGrantDateFairValue
8.52
salm Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
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salm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodTotalIntrinsicValue
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salm Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue
3.13
salm Net Internet Revenue
NetInternetRevenue
41811000
salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
36901000
salm Net Present Value Of Contingent Consideration
NetPresentValueOfContingentConsideration
2047000
salm Internet Expenses Net
InternetExpensesNet
30811000
salm Publishing Expenses Net
PublishingExpensesNet
17624000
salm Supplemental Noncash Trade Expense
SupplementalNoncashTradeExpense
4827000
salm Percentage Of Intangible Assets
PercentageOfIntangibleAssets
0.69 pure
salm Business Acquisition Deferred Cash Payment After Two Years
BusinessAcquisitionDeferredCashPaymentAfterTwoYears
2289000
salm Net Broadcast Revenue
NetBroadcastRevenue
140393000
salm Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageRemainingContractualTerm
P6Y1M6D
salm Business Combination Contingent Consideration Arrangements Payment
BusinessCombinationContingentConsiderationArrangementsPayment
300000
salm Business Acquisition Deferred Cash Payment After One Year
BusinessAcquisitionDeferredCashPaymentAfterOneYear
893000
salm Intangible Assets License Renewal Period
IntangibleAssetsLicenseRenewalPeriod
P8Y
salm Net Publishing Revenue
NetPublishingRevenue
18369000
salm Broadcast Expenses Net
BroadcastExpensesNet
97695000
salm Supplemental Noncash Trade Revenue
SupplementalNoncashTradeRevenue
4919000
salm Business Acquisition Escrow Deposits Previously Paid
BusinessAcquisitionEscrowDepositsPreviouslyPaid
1345000
salm Business Acquisition Deferred Cash Payments Related To Prior Acquisition
BusinessAcquisitionDeferredCashPaymentsRelatedToPriorAcquisition
300000
salm Payments Of Contingent Earn Out Consideration
PaymentsOfContingentEarnOutConsideration
300000
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M
CY2013 us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
400000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.14
CY2014Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26265957 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.14
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25536397 shares
CY2014Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1046000
CY2014Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
137000
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
69603000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6310000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
8847000
CY2014Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
7000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
572000
CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3743000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
3743000
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000
CY2014Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
300000
CY2014Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-18000
CY2014Q3 us-gaap Interest Expense
InterestExpense
4139000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
55547000
CY2014Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
545000
CY2014Q3 us-gaap Cost Of Services Amortization
CostOfServicesAmortization
1530000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2567000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
207000
CY2014Q3 us-gaap Costs And Expenses
CostsAndExpenses
60756000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5254000
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
344000
CY2014Q3 us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
3141000
CY2014Q3 salm Accretion Of Acquisition Related Contingent Consideration
AccretionOfAcquisitionRelatedContingentConsideration
32000
CY2014Q3 salm Net Internet Revenue
NetInternetRevenue
14511000
CY2014Q3 salm Net Broadcast Revenue
NetBroadcastRevenue
46962000
CY2014Q3 salm Business Combination Contingent Consideration Arrangements Payment
BusinessCombinationContingentConsiderationArrangementsPayment
300000
CY2014Q3 salm Net Publishing Revenue
NetPublishingRevenue
8130000
CY2014Q3 salm Broadcast Expenses Net
BroadcastExpensesNet
32596000
CY2014Q3 salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
14056000
CY2014Q3 salm Internet Expenses Net
InternetExpensesNet
10931000
CY2014Q3 salm Publishing Expenses Net
PublishingExpensesNet
6766000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.21
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25921391 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.21
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25126858 shares
CY2013Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1033000
CY2013Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
143000
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
58476000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4175000
CY2013Q3 salm Publishing Expenses Net
PublishingExpensesNet
3301000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
8974000
CY2013Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
25000
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-11000
CY2013Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-19000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5334000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
5323000
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
16000
CY2013Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
400000
CY2013Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-16000
CY2013Q3 us-gaap Interest Expense
InterestExpense
3770000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
45743000
CY2013Q3 us-gaap Cost Of Services Amortization
CostOfServicesAmortization
695000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1159000
CY2013Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
215000
CY2013Q3 us-gaap Costs And Expenses
CostsAndExpenses
49502000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
19000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4951000
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
358000
CY2013Q3 us-gaap Cost Of Services Depreciation
CostOfServicesDepreciation
3089000
CY2013Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-8000
CY2013Q3 salm Net Internet Revenue
NetInternetRevenue
9390000
CY2013Q3 salm Net Broadcast Revenue
NetBroadcastRevenue
46015000
CY2013Q3 salm Net Publishing Revenue
NetPublishingRevenue
3071000
CY2013Q3 salm Broadcast Expenses Net
BroadcastExpensesNet
30847000
CY2013Q3 salm Operating Income Loss Before Depreciation And Amortization
OperatingIncomeLossBeforeDepreciationAndAmortization
12733000
CY2013Q3 salm Internet Expenses Net
InternetExpensesNet
6644000

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