Beasley Broadcasting reports first-quarter profit

Naples-based radio operator Beasley Broadcast Group reported higher first-quarter profits.

In the quarter ending March 31, the company earned more than $1.5 million, or 7 cents a share, up more than 195 percent from profits of nearly $525,000, or 2 cents a share, a year ago.

Revenues also rose in the quarter to $23.1 million, up more than 5 percent from $21.8 million a year ago.

The company saw net revenue increases at nine of its 11 markets including Philadelphia, Miami and Las Vegas.

There was a $1.6 million, or more than 48 percent year-over-year improvement, in its operating income, which rose to $4.9 million in the quarter. That in part reflects decreases in station operating expenses, primarily due to a non-renewal of sports programming in the Miami-Fort Lauderdale market and a 6.7 percent decline in depreciation and amortization costs.

In a statement, George G. Beasley, the company’s chairman and CEO, said the revenue growth at its same stations, the ones that it has owned at least a year, “reflects the improved industry environment and the strength of our stations and ratings in their markets.”

Founded in 1961, Beasley Broadcast operates 42 stations. It also provides management services to two FM stations in Las Vegas, which it has the option to purchase.

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