$SGA
SAGA COMMUNICATIONS INC

2015 Q1 Form 10-Q Financial Statement

#000114420415028817 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q1
Revenue $29.06M $36.37M $29.42M
YoY Change -1.23% 7.73% 1.61%
Cost Of Revenue $22.77M $25.61M $22.95M
YoY Change -0.78% 7.61% 3.89%
Gross Profit $6.300M $10.76M $6.480M
YoY Change -2.78% 8.03% -5.68%
Gross Profit Margin 21.68% 29.58% 22.02%
Selling, General & Admin $2.480M $2.320M $2.150M
YoY Change 15.35% 5.94% 10.26%
% of Gross Profit 39.37% 21.56% 33.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.700M
YoY Change -1.03%
% of Gross Profit 62.27%
Operating Expenses $2.480M $1.110M $2.150M
YoY Change 15.35% -49.32% 10.26%
Operating Profit $3.814M $7.712M $4.323M
YoY Change -11.77% 34.4% -12.15%
Interest Expense $241.0K $252.0K $272.0K
YoY Change -11.4% -10.64% -24.02%
% of Operating Profit 6.32% 3.27% 6.29%
Other Income/Expense, Net $8.000K $33.00K $15.00K
YoY Change -46.67% 1550.0% -40.0%
Pretax Income $3.581M $7.493M $4.066M
YoY Change -11.93% 37.39% -10.4%
Income Tax $1.450M $3.050M $1.627M
% Of Pretax Income 40.49% 40.7% 40.01%
Net Earnings $2.131M $4.443M $2.439M
YoY Change -12.63% 37.81% -17.29%
Net Earnings / Revenue 7.33% 12.22% 8.29%
Basic Earnings Per Share $0.37 $0.77 $0.43
Diluted Earnings Per Share $0.36 $0.76 $0.42
COMMON SHARES
Basic Shares Outstanding 5.710M shares 5.709M shares 5.690M shares
Diluted Shares Outstanding 5.762M shares 5.757M shares 5.757M shares

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.50M $17.90M $23.30M
YoY Change 5.15% 1.7% -7.91%
Cash & Equivalents $24.52M $17.91M $23.33M
Short-Term Investments
Other Short-Term Assets $5.100M $5.100M $4.500M
YoY Change 13.33% 8.51% -4.26%
Inventory
Prepaid Expenses
Receivables $17.91M $20.66M $17.81M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $47.51M $43.59M $45.60M
YoY Change 4.2% 3.58% -2.77%
LONG-TERM ASSETS
Property, Plant & Equipment $54.56M $55.19M $56.59M
YoY Change -3.6% -2.04% -2.42%
Goodwill $326.0K $326.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.389M $6.182M $6.319M
YoY Change 1.11% -2.58% 19.23%
Total Long-Term Assets $148.0M $148.5M $151.6M
YoY Change -2.32% -1.78% -1.38%
TOTAL ASSETS
Total Short-Term Assets $47.51M $43.59M $45.60M
Total Long-Term Assets $148.0M $148.5M $151.6M
Total Assets $195.5M $192.0M $197.2M
YoY Change -0.82% -0.61% -1.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.262M $2.133M $1.971M
YoY Change 14.76% 8.72% 9.5%
Accrued Expenses $3.682M $2.756M $3.118M
YoY Change 18.09% -1.11% -67.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $14.25M $13.03M $13.20M
YoY Change 7.94% -6.92% 1.57%
LONG-TERM LIABILITIES
Long-Term Debt $36.08M $36.08M $46.08M
YoY Change -21.7% -19.83% -21.64%
Other Long-Term Liabilities $4.165M $3.902M $3.848M
YoY Change 8.24% 40.01% 24.13%
Total Long-Term Liabilities $40.24M $39.98M $49.93M
YoY Change -19.39% -16.34% -19.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.25M $13.03M $13.20M
Total Long-Term Liabilities $40.24M $39.98M $49.93M
Total Liabilities $54.50M $76.80M $84.34M
YoY Change -35.39% -8.05% -9.51%
SHAREHOLDERS EQUITY
Retained Earnings $92.15M $91.18M $89.13M
YoY Change 3.38% 5.17%
Common Stock $53.01M $52.57M $51.93M
YoY Change 2.07% 2.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.26M $28.50M $28.25M
YoY Change 0.04% -0.07%
Treasury Stock Shares 1.489K shares
Shareholders Equity $116.9M $115.2M $112.8M
YoY Change
Total Liabilities & Shareholders Equity $195.5M $192.0M $197.2M
YoY Change -0.82% -0.61% -1.72%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q1
OPERATING ACTIVITIES
Net Income $2.131M $4.443M $2.439M
YoY Change -12.63% 37.81% -17.29%
Depreciation, Depletion And Amortization $6.700M
YoY Change -1.03%
Cash From Operating Activities $7.587M $4.450M $7.838M
YoY Change -3.2% -38.54% 1.4%
INVESTING ACTIVITIES
Capital Expenditures $950.0K -$1.720M $1.459M
YoY Change -34.89% 2.38% -223.64%
Acquisitions
YoY Change
Other Investing Activities -$2.000K $1.670M -$2.000K
YoY Change 0.0% -1770.0% -101.48%
Cash From Investing Activities -$948.0K -$60.00K -$2.139M
YoY Change -55.68% -96.63% -229.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$25.00K -14.52M $0.00
YoY Change -5.04% -100.0%
NET CHANGE
Cash From Operating Activities $7.587M 4.450M $7.838M
Cash From Investing Activities -$948.0K -60.00K -$2.139M
Cash From Financing Activities -$25.00K -14.52M $0.00
Net Change In Cash $6.614M -10.13M $5.699M
YoY Change 16.06% 3.05% 245.18%
FREE CASH FLOW
Cash From Operating Activities $7.587M $4.450M $7.838M
Capital Expenditures $950.0K -$1.720M $1.459M
Free Cash Flow $6.637M $6.170M $6.379M
YoY Change 4.04% -30.83% -28.41%

Facts In Submission

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CY2015Q1 dei Trading Symbol
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CY2015Q1 dei Entity Central Index Key
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CY2015Q1 dei Entity Registrant Name
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SAGA COMMUNICATIONS INC
CY2015Q1 dei Current Fiscal Year End Date
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CY2015Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="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"> <b>2.&#160;</b> <b>Recent Accounting Pronouncements</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;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: 18.7pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In February 2015, the FASB issued Accounting Standards <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Update No. 2015-02, &#8220;</font><i>Consolidation (Topic 810), Amendments to the Consolidation Analysis&#8221;</i> <font style="BACKGROUND-COLOR: transparent">(&#8220;ASU 2015-02&#8221;)</font><i>,</i> <font style="BACKGROUND-COLOR: transparent">which amends the consolidation requirements in ASC 810, primarily related to limited partnerships and VIEs. ASU 2015-02 is effective for fiscal years beginning after December 15, 2016. The C</font></font>ompany is currently evaluating the impact of the provisions of this new standard on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; 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: 18.7pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In January 2015, the FASB issued Accounting Standards Update No. 2015-01, &#8220;<i>Income Statement-Extraordinary and Unusual Items&#8221;</i> (&#8220;ASU 2015-01&#8221;), which simplifies income statement presentation by eliminating the need to determine whether to classify an item as an extraordinary item. ASU 2015-01 is effective for the first interim period within annual reporting periods beginning after December 15, 2015 and is not expected to have a material impact on the Company&#8217;s consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;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: 20.15pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In August 2014, the FASB issued Accounting Standards Update No. 2014-15, &#8220;<i>Disclosure of Uncertainties About an Entity&#8217;s Ability to Continue as a Going Concern&#8221;</i> (&#8220;ASU 2014-15&#8221;), which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity&#8217;s ability to continue as a going concern and provide related disclosures. ASU 2014-15 is effective for the first interim period within annual reporting periods beginning after December 15, 2016 and is not expected to have a material impact on the Company&#8217;s consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20.15pt; 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: 20.15pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In May 2014, the FASB issued ASU No. 2014-09, <i>Revenue from Contracts with Customers</i>. This new standard provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under GAAP. The standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the provisions of this new standard on our consolidated financial statements.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 us-gaap Goodwill
Goodwill
326000 USD
CY2014Q4 us-gaap Goodwill
Goodwill
326000 USD
CY2014Q1 sga Payment To Acquire Broadcast Properties
PaymentToAcquireBroadcastProperties
682000 USD
CY2015Q1 sga Payment To Acquire Broadcast Properties
PaymentToAcquireBroadcastProperties
0 USD

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