Saga munications(US:SGA)2025-11-06 14:05Financial Performance - Net revenue decreased 1.8% to $28.2 million for Q3 2025 compared to $28.7 million in Q3 2024[1] - The company reported an operating loss of $626 thousand for Q3 2025, compared to operating income of $1.6 million in Q3 2024[1] - For the nine-month period ended September 30, 2025, net revenue decreased 3.7% to $80.6 million from $83.7 million in the same period last year[2] - The company had a net loss of $979 thousand for the nine-month period ended September 30, 2025, compared to net income of $2.2 million for the same period last year[2] - Station operating income decreased 23.0% to $11.7 million for the nine-month period ended September 30, 2025[2] - Basic loss per share for Q3 2025 was $(0.08), compared to earnings of $0.20 per share in Q3 2024[19] - The operating loss for the nine months ended September 30, 2025, was $(1,515) million, compared to an operating income of $1,371 million for the same period in 2024, indicating a significant decline in performance[32] - The operating loss for the three months ended September 30, 2025, was $(626) million, compared to an operating income of $1,645 million for the same period in 2024, indicating a significant decline[32] Operating Expenses - Station operating expense increased by $2.0 million or 8.7% to $24.7 million for Q3 2025, primarily due to a $2.1 million retroactive rate adjustment from music licensing organizations[1] - Station operating expense increased to $24,674,000 in Q3 2025 from $22,709,000 in Q3 2024, representing an increase of 8.6%[19] - Station operating expense for the nine months ended September 30, 2025, was $68,863 million, slightly increasing from $68,473 million in the same period of 2024, representing a year-over-year increase of 0.6%[32] - Corporate general and administrative expenses for the nine months ended September 30, 2025, were $9,061 million, up from $8,987 million in the same period of 2024, showing an increase of 0.8%[32] Cash and Investments - The company had $26.3 million in cash and short-term investments as of September 30, 2025, increasing to $34.2 million by November 3, 2025[8] Capital Expenditures - Capital expenditures for Q3 2025 were $600 thousand, unchanged from the same period last year[1] Debt and EBITDA - Total long-term debt, including current maturities, was reported at $5,000,000[29] - The trailing twelve-month consolidated EBITDA was $10,725,000, compared to $7,671,000 in the previous period[29] - The leverage ratio based on trailing twelve-month consolidated EBITDA was 0.68[29] Depreciation and Amortization - Depreciation and amortization for Q3 2025 totaled $1,307,000, down from $1,391,000 in Q3 2024[21] - Depreciation and amortization for the nine months ended September 30, 2025, was $3,900 million, compared to $3,847 million for the same period in 2024, reflecting a year-over-year increase of 1.4%[32] Other Income - Other operating income for the nine months ended September 30, 2025, was $298 million, a decrease from $1,026 million in the same period of 2024, indicating a decline of 70.9%[32] Dividends - A quarterly dividend of $0.25 per share was paid on September 19, 2025, totaling approximately $1.6 million[7] Telecommunications Towers Sale - The company entered into an agreement to sell telecommunications towers for approximately $10.7 million, with net proceeds of about $8.7 million received[5]