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Salem Communications says its Q1 radio revenues grew 3%
Salem says other divisions posted faster revenue growth: publishing revenues were up 17% to $2.8 million,and Internet revenues zoomed 38% to $6.2 million. But radio is still the big engine at Salem, and its revenues grew 3.2% to $42.7 million. Radio division station operating income fell 3% and that pushed the margins down. With all divisions consolidated, Salem reports revenue up 7.2% and operating expenses down 1%. Earnings per share improved from 1 cent to 10 cents. Salem's radio stations specialize mostly in Christian (teaching/talk and music) and conservative talk, with some Spanish and business news stations.
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