$SGA
SAGA COMMUNICATIONS INC

2019 Q1 Form 10-Q Financial Statement

#000114420419025258 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q1
Revenue $27.82M $32.94M $28.01M
YoY Change -0.69% 4.68% 7.09%
Cost Of Revenue $23.16M $23.76M $23.40M
YoY Change -1.03% 2.24% 9.65%
Gross Profit $4.650M $9.180M $4.610M
YoY Change 0.87% 11.54% -4.36%
Gross Profit Margin 16.72% 27.87% 16.46%
Selling, General & Admin $2.690M $3.150M $2.540M
YoY Change 5.91% 13.31% -11.19%
% of Gross Profit 57.85% 34.31% 55.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.690M $3.170M $2.290M
YoY Change 17.47% 9.31% -19.37%
Operating Profit $1.965M $6.009M $2.319M
YoY Change -15.27% 55.23% 17.54%
Interest Expense $208.0K $229.0K $219.0K
YoY Change -5.02% 8.02% 5.29%
% of Operating Profit 10.59% 3.81% 9.44%
Other Income/Expense, Net $2.000K $0.00
YoY Change
Pretax Income $1.920M $5.970M $2.189M
YoY Change -12.29% 63.11% 24.02%
Income Tax $550.0K $1.670M $660.0K
% Of Pretax Income 28.65% 27.97% 30.15%
Net Earnings $1.370M $4.295M $1.529M
YoY Change -10.4% -71.04% -21.1%
Net Earnings / Revenue 4.93% 13.04% 5.46%
Basic Earnings Per Share $0.23 $0.72 $0.26
Diluted Earnings Per Share $0.23 $0.72 $0.26
COMMON SHARES
Basic Shares Outstanding 5.841M 5.820M 5.842M
Diluted Shares Outstanding 5.841M 5.820M 5.842M

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.20M $44.70M $47.80M
YoY Change -17.99% -15.66% 56.21%
Cash & Equivalents $39.17M $44.73M $47.79M
Short-Term Investments
Other Short-Term Assets $3.500M $3.900M $4.100M
YoY Change -14.63% 2.63% -14.58%
Inventory
Prepaid Expenses
Receivables $16.93M $19.98M $16.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $59.67M $68.60M $68.70M
YoY Change -13.14% -9.95% 26.02%
LONG-TERM ASSETS
Property, Plant & Equipment $58.74M $59.10M $56.30M
YoY Change 4.33% 5.1% -0.03%
Goodwill $18.97M $18.84M
YoY Change 21.09%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.76M $6.690M $7.300M
YoY Change 74.74% -11.31% 2.89%
Total Long-Term Assets $185.8M $179.9M $172.4M
YoY Change 7.77% 4.22% 3.19%
TOTAL ASSETS
Total Short-Term Assets $59.67M $68.60M $68.70M
Total Long-Term Assets $185.8M $179.9M $172.4M
Total Assets $245.5M $248.5M $241.1M
YoY Change 1.81% -0.12% 8.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.026M $2.613M $2.600M
YoY Change -22.08% 18.45% -3.02%
Accrued Expenses $4.636M $3.072M $8.300M
YoY Change -44.14% -5.27% 70.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $5.000M $0.00
YoY Change
Total Short-Term Liabilities $14.42M $23.17M $12.40M
YoY Change 16.27% 10.81% -17.88%
LONG-TERM LIABILITIES
Long-Term Debt $15.00M $15.00M $25.00M
YoY Change -40.0% -40.0% -31.25%
Other Long-Term Liabilities $6.798M $1.581M $2.300M
YoY Change 195.57% -32.06% -42.3%
Total Long-Term Liabilities $21.80M $16.58M $27.30M
YoY Change -20.15% -39.32% -32.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.42M $23.17M $12.40M
Total Long-Term Liabilities $21.80M $16.58M $27.30M
Total Liabilities $60.13M $63.48M $61.16M
YoY Change -1.68% -8.41% -28.54%
SHAREHOLDERS EQUITY
Retained Earnings $156.3M $156.7M $151.4M
YoY Change 3.25% 3.35% 38.98%
Common Stock $76.00K $76.00K $63.22M
YoY Change -99.88% -99.88% 5.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $36.27M $36.56M $34.65M
YoY Change 4.65% 4.78% 4.63%
Treasury Stock Shares $1.703K
Shareholders Equity $185.3M $185.0M $179.9M
YoY Change
Total Liabilities & Shareholders Equity $245.5M $248.5M $241.1M
YoY Change 1.81% -0.12% 8.81%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q1
OPERATING ACTIVITIES
Net Income $1.370M $4.295M $1.529M
YoY Change -10.4% -71.04% -21.1%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $6.305M $7.390M $4.372M
YoY Change 44.21% -155.52% -19.85%
INVESTING ACTIVITIES
Capital Expenditures $1.212M -$1.470M $1.498M
YoY Change -19.09% 5.0% 4.1%
Acquisitions $24.20M
YoY Change
Other Investing Activities -$249.0K -$9.280M -$294.0K
YoY Change -15.31% 2629.41% -486.84%
Cash From Investing Activities -$1.726M -$10.76M -$1.204M
YoY Change 43.36% 521.97% -20.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $5.000M $0.00
YoY Change
Cash From Financing Activities -10.14M -700.0K -8.404M
YoY Change 20.63% -94.6%
NET CHANGE
Cash From Operating Activities 6.305M 7.390M 4.372M
Cash From Investing Activities -1.726M -10.76M -1.204M
Cash From Financing Activities -10.14M -700.0K -8.404M
Net Change In Cash -5.559M -4.070M -5.236M
YoY Change 6.17% -85.47% -232.89%
FREE CASH FLOW
Cash From Operating Activities $6.305M $7.390M $4.372M
Capital Expenditures $1.212M -$1.470M $1.498M
Free Cash Flow $5.093M $8.860M $2.874M
YoY Change 77.21% -174.39% -28.44%

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CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
3007000
CY2019Q1 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broadcast Licenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBroadcastLicenses
61000
CY2018Q4 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broadcast Licenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBroadcastLicenses
1991000
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
124000
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
3281000
CY2019Q1 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Intangibles Deferred Costs And Investments
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherIntangiblesDeferredCostsAndInvestments
0
CY2018Q4 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Intangibles Deferred Costs And Investments
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherIntangiblesDeferredCostsAndInvestments
1123000
CY2019Q1 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherAssets
185000
CY2018Q4 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherAssets
6395000
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
210000
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
9961000
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
0
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
120000
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
0
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
120000
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
210000
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
9841000
CY2019Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
27816000
CY2018Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
28975000
CY2019Q1 sga Business Acquisitions Proforma Station Operating Expeneses
BusinessAcquisitionsProformaStationOperatingExpeneses
23163000
CY2018Q1 sga Business Acquisitions Proforma Station Operating Expeneses
BusinessAcquisitionsProformaStationOperatingExpeneses
24232000
CY2019Q1 sga Business Acquisitions Proforma Corporate General And Administrative Expenses
BusinessAcquisitionsProformaCorporateGeneralAndAdministrativeExpenses
2685000
CY2018Q1 sga Business Acquisitions Proforma Corporate General And Administrative Expenses
BusinessAcquisitionsProformaCorporateGeneralAndAdministrativeExpenses
2544000
CY2019Q1 sga Business Acquisitions Proforma Operating Expenses Other
BusinessAcquisitionsProformaOperatingExpensesOther
3000
CY2018Q1 sga Business Acquisitions Proforma Operating Expenses Other
BusinessAcquisitionsProformaOperatingExpensesOther
-251000
CY2019Q1 sga Business Acquisitions Proforma Operating Income
BusinessAcquisitionsProformaOperatingIncome
1965000
CY2018Q1 sga Business Acquisitions Proforma Operating Income
BusinessAcquisitionsProformaOperatingIncome
2450000
CY2019Q1 sga Business Acquisitions Proforma Interest Expenses
BusinessAcquisitionsProformaInterestExpenses
-208000
CY2018Q1 sga Business Acquisitions Proforma Interest Expenses
BusinessAcquisitionsProformaInterestExpenses
-219000
CY2019Q1 sga Business Acquisitions Proforma Non Operating Interset Income
BusinessAcquisitionsProformaNonOperatingIntersetIncome
-163000
CY2018Q1 sga Business Acquisitions Proforma Non Operating Interset Income
BusinessAcquisitionsProformaNonOperatingIntersetIncome
-89000
CY2019Q1 sga Business Acquisitions Proforma Income Tax Expenses Benefit
BusinessAcquisitionsProformaIncomeTaxExpensesBenefit
-550000
CY2018Q1 sga Business Acquisitions Proforma Income Tax Expenses Benefit
BusinessAcquisitionsProformaIncomeTaxExpensesBenefit
-699000
CY2019Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1370000
CY2018Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1621000
CY2019Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.23
CY2018Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.27
CY2019Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.23
CY2018Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.27
CY2019Q1 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
210000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
233334
CY2013Q4 sga Percentage To Retain Annual Restricted Stock Awards
PercentageToRetainAnnualRestrictedStockAwards
0.50
CY2013Q4 sga Share Based Compensation Arrangement By Share Based Payment Award Options Exercise Price Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePriceDescription
may not be exercised at a price which is less than 100% of the fair market value of shares at the date of grant.
CY2019Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2019-03-29
CY2019Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2019-03-12
CY2019Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2018-12-10
CY2018Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2019-01-04
CY2018Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2018-11-28
CY2018Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2018-08-14
CY2018Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-09-14
CY2018Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2018-08-31
CY2018Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2018-05-15
CY2019Q1 dei Entity Registrant Name
EntityRegistrantName
SAGA COMMUNICATIONS INC
CY2019Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000886136
CY2019Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-06-22
CY2018Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2018-05-31
CY2018Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2018-02-28
CY2018Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-03-30
CY2018Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2018-03-12
CY2018Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1800000
CY2018Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1800000
CY2019Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2019-02-26
CY2018Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1800000
CY2019Q1 sga Amortization Of Additional Acquisition Costs
AmortizationOfAdditionalAcquisitionCosts
120000
CY2019Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75800000
CY2019Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
20300000
CY2019Q1 us-gaap Revenues
Revenues
27816000
CY2018Q1 us-gaap Revenues
Revenues
28009000
CY2019Q1 us-gaap Dividends
Dividends
1800000
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3300000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1920000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2189000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1920000
CY2019Q1 dei Document Type
DocumentType
10-Q
CY2019Q1 dei Amendment Flag
AmendmentFlag
false
CY2019Q1 dei Document Period End Date
DocumentPeriodEndDate
2019-03-31
CY2019Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
CY2019Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2019Q1 dei Trading Symbol
TradingSymbol
SGA
CY2019Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2019Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0

Files In Submission

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0001144204-19-025258-index-headers.html Edgar Link pending
0001144204-19-025258-index.html Edgar Link pending
0001144204-19-025258.txt Edgar Link pending
0001144204-19-025258-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
sga-20190331.xml Edgar Link completed
sga-20190331.xsd Edgar Link pending
sga-20190331_cal.xml Edgar Link unprocessable
sga-20190331_def.xml Edgar Link unprocessable
sga-20190331_lab.xml Edgar Link unprocessable
sga-20190331_pre.xml Edgar Link unprocessable
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