$SGA
SAGA COMMUNICATIONS INC

2013 Q2 Form 10-Q Financial Statement

#000114420413044301 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $33.83M $32.99M
YoY Change 2.56% 0.69%
Cost Of Revenue $23.49M $21.96M
YoY Change 6.97% -4.6%
Gross Profit $10.34M $11.03M
YoY Change -6.26% 13.13%
Gross Profit Margin 30.56% 33.44%
Selling, General & Admin $1.980M $1.940M
YoY Change 2.06% -0.51%
% of Gross Profit 19.15% 17.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.990M $1.940M
YoY Change 2.58% 0.0%
Operating Profit $8.357M $9.087M
YoY Change -8.03% 16.35%
Interest Expense $357.0K $458.0K
YoY Change -22.05% -144.47%
% of Operating Profit 4.27% 5.04%
Other Income/Expense, Net $66.00K $8.000K
YoY Change 725.0% -92.0%
Pretax Income $7.934M $8.637M
YoY Change -8.14% 56.18%
Income Tax $3.130M $3.438M
% Of Pretax Income 39.45% 39.81%
Net Earnings $4.804M $5.132M
YoY Change -6.39% 61.89%
Net Earnings / Revenue 14.2% 15.56%
Basic Earnings Per Share $0.85 $0.91
Diluted Earnings Per Share $0.84 $0.91
COMMON SHARES
Basic Shares Outstanding 5.683M shares 5.661K shares
Diluted Shares Outstanding 5.745M shares 5.663K shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.30M $8.800M
YoY Change 119.32% -36.69%
Cash & Equivalents $19.30M $8.841M
Short-Term Investments
Other Short-Term Assets $5.300M $5.400M
YoY Change -1.85% -15.63%
Inventory
Prepaid Expenses
Receivables $19.80M $19.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $44.40M $33.70M
YoY Change 31.75% -15.96%
LONG-TERM ASSETS
Property, Plant & Equipment $57.70M $59.70M
YoY Change -3.35% -7.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.600M $8.100M
YoY Change -30.86% 28.57%
Total Long-Term Assets $153.6M $158.1M
YoY Change -2.88% -2.08%
TOTAL ASSETS
Total Short-Term Assets $44.40M $33.70M
Total Long-Term Assets $153.6M $158.1M
Total Assets $198.0M $191.8M
YoY Change 3.2% -4.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $1.400M
YoY Change 28.57% -22.22%
Accrued Expenses $8.700M $10.50M
YoY Change -17.14% -1.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.078M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $13.41M $13.90M
YoY Change -3.53% -21.02%
LONG-TERM LIABILITIES
Long-Term Debt $50.00M $58.80M
YoY Change -14.97% -31.71%
Other Long-Term Liabilities $3.092M $3.100M
YoY Change -0.26% -16.22%
Total Long-Term Liabilities $53.09M $61.90M
YoY Change -14.23% -31.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.41M $13.90M
Total Long-Term Liabilities $53.09M $61.90M
Total Liabilities $85.71M $91.00M
YoY Change -5.81% -21.96%
SHAREHOLDERS EQUITY
Retained Earnings $89.50M
YoY Change
Common Stock $51.29M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.52M
YoY Change
Treasury Stock Shares
Shareholders Equity $112.3M $100.8M
YoY Change
Total Liabilities & Shareholders Equity $198.0M $191.8M
YoY Change 3.22% -4.86%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $4.804M $5.132M
YoY Change -6.39% 61.89%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $3.320M $5.960M
YoY Change -44.3% 5.11%
INVESTING ACTIVITIES
Capital Expenditures -$1.290M -$1.310M
YoY Change -1.53% -4.38%
Acquisitions
YoY Change
Other Investing Activities -$40.00K $10.00K
YoY Change -500.0% -133.33%
Cash From Investing Activities -$1.330M -$1.320M
YoY Change 0.76% -7.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.980M -2.500M
YoY Change 219.2% -39.61%
NET CHANGE
Cash From Operating Activities 3.320M 5.960M
Cash From Investing Activities -1.330M -1.320M
Cash From Financing Activities -7.980M -2.500M
Net Change In Cash -5.990M 2.140M
YoY Change -379.91% 1845.45%
FREE CASH FLOW
Cash From Operating Activities $3.320M $5.960M
Capital Expenditures -$1.290M -$1.310M
Free Cash Flow $4.610M $7.270M
YoY Change -36.59% 3.27%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
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CY2012Q2 us-gaap Income Loss From Continuing Operations
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CY2012Q4 us-gaap Stockholders Equity
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CY2012Q2 us-gaap Sales Revenue Net
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CY2013Q2 us-gaap Direct Operating Costs
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CY2012Q2 us-gaap Direct Operating Costs
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CY2013Q2 us-gaap General And Administrative Expense
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CY2012Q2 us-gaap General And Administrative Expense
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CY2013Q2 us-gaap Income Tax Expense Benefit
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CY2012Q2 us-gaap Income Tax Expense Benefit
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CY2012Q2 us-gaap Earnings Per Share Basic
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CY2012Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2012Q2 us-gaap Other Nonoperating Income Expense
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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sga Proceeds From Sale Of Tv Station
ProceedsFromSaleOfTVStation
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments For Proceeds From Other Investing Activities
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CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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us-gaap Direct Operating Costs
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us-gaap Direct Operating Costs
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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sga Proceeds From Sale Of Tv Station
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Payments Of Debt Restructuring Costs
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CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Stockholders Equity Note Stock Split
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The stock split increased the Companys issued and outstanding shares of common stock from 3,659,753 shares of Class A Common Stock and 597,504 shares of Class B Common Stock to 4,879,186 and 796,672 shares, respectively.
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2000 shares
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>2. Recent Accounting Pronouncements</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 18.7pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.5pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In July 2012, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2012-02, <em>Testing Indefinite-Lived Intangible Assets for Impairment</em>. The guidance gives companies the option to first perform a qualitative assessment to determine whether it is more likely that not that an indefinite-lived intangible asset is impaired. If the qualitative assessment supports that it is more likely than not the fair value of the asset exceeds its carrying amount, the company would not be required to perform a quantitative impairment test. If the qualitative assessment does not support the fair value of the asset, then a quantitative assessment is performed. This update was adopted on January 1, 2013 and did not have any material&#160;effect on our consolidated financial statements.<strong>&#160;</strong></div> </div>
CY2013Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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120000000 USD
us-gaap Line Of Credit Facility Expiration Date1
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2018-05-31
CY2012Q2 sga Discontinued Operation Selling Price
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CY2013Q1 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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CY2013Q2 sga Term Loan Principal Amortization Payment Required
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sga Additional Business Acquisitions Cost
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35000000 USD
CY2013Q2 us-gaap Long Term Debt
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us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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CY2012Q2 us-gaap Assets
Assets
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Files In Submission

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v351025_ex31-2.htm Edgar Link pending
v351025_ex32.htm Edgar Link pending