Salem Media Group, Inc. (SALM) financial statements (2022 and earlier)

Company profile

Business Address 6400 NORTH BELT LINE ROAD
IRVING, TX 75063
State of Incorp. DE
Fiscal Year End December 31
SIC 4832 - Radio Broadcasting Stations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,78523,78119,85823,3946,32519,29819,048
Cash and cash equivalents1,78523,78119,85823,3946,32519,29819,048
Receivables27,04026,01826,03623,98025,59125,35123,810
Inventory, net of allowances, customer advances and progress billings960907719588495618707
Inventory960907719588495618707
Prepaid expense6,7727,9707,1667,5976,8477,2335,793
Assets held-for-sale, not part of disposal group1,5511,875  3,3463,334 
Other undisclosed current assets3,4063,3002,6392,5483,1922,8751,984
Total current assets:41,51463,85156,41858,10745,79658,70951,342
Noncurrent Assets
Finance lease, right-of-use asset105121124138152126144
Operating lease, right-of-use asset43,56044,10044,92646,50848,20349,00251,899
Property, plant and equipment79,33978,42579,41578,59879,12280,72384,380
Long-term investments and receivables274364636696721792753
Accounts and financing receivable, after allowance for credit loss274364636696721792753
Intangible assets, net (including goodwill)346,438346,779347,019347,093347,547348,249349,829
Goodwill23,98623,98623,78523,75723,75723,75723,691
Intangible assets, net (excluding goodwill)322,452322,793323,234323,336323,790324,492326,138
Other noncurrent assets4,0393,6783,2322,6272,8172,7902,755
Other undisclosed noncurrent assets843895174187213226198
Total noncurrent assets:474,598474,362475,526475,847478,775481,908489,958
TOTAL ASSETS:516,112538,213531,944533,954524,571540,617541,300
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities30,29528,04825,99527,85625,03827,37722,646
Accounts payable2,6612,1802,3571,3122,0062,9784,810
Accrued liabilities12,00611,74010,6679,93211,0029,1578,360
Employee-related liabilities13,05410,75211,13911,15310,2429,7977,558
Taxes payable1,544626605584563561686
Interest and dividends payable1,0302,7501,2274,8751,2254,8841,232
Deferred revenue12,29411,56112,40112,60011,65214,71316,567
Debt585959605,06016,65619,061
Deferred rent credit157114143149147112141
Other undisclosed current liabilities8,6518,6048,7688,6158,9638,9589,588
Total current liabilities:51,45548,38647,36649,28050,86067,81668,003
Noncurrent Liabilities
Long-term debt and lease obligation212,854251,818269,458271,295261,611262,718264,850
Long-term debt, excluding current maturities170,581208,559225,327225,143213,764213,580213,396
Finance lease, liability657982941078698
Operating lease, liability42,20843,18044,04946,05847,74049,05251,356
Liabilities, other than long-term debt73,59277,41176,70777,30776,82178,20476,971
Deferred revenue2,2222,0812,1672,1591,8691,8181,937
Deferred rent credit3,7723,7953,8183,8413,8643,8873,910
Deferred income tax liabilities67,01269,28768,48069,07168,88369,73269,407
Other liabilities5862,2482,2422,2362,2052,7671,717
Total noncurrent liabilities:286,446329,229346,165348,602338,432340,922341,821
Total liabilities:337,901377,615393,531397,882389,292408,738409,824
Stockholders' equity
Stockholders' equity attributable to parent, including:178,211160,598138,413136,072135,279131,879131,476
Treasury stock, value(34,006)(34,006)(34,006)(34,006)(34,006)(34,006)(34,006)
Additional paid in capital248,438247,668247,577247,493247,025246,953246,879
Accumulated deficit(36,509)(53,349)(75,443)(77,700)(78,023)(81,351)(81,680)
Other undisclosed stockholders' equity attributable to parent288285285285283283283
Total stockholders' equity:178,211160,598138,413136,072135,279131,879131,476
TOTAL LIABILITIES AND EQUITY:516,112538,213531,944533,954524,571540,617541,300

Income statement (P&L) ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Revenues69,12965,98363,78259,35364,47760,64152,871
Cost of revenue157,915(56,107)(53,712)(50,070)(52,885)(49,859)(49,075)
Gross profit:227,0449,87610,0709,28311,59210,7823,796
Operating expenses(208,487)5,923(4,429)(4,927)(5,200)(6,030)(4,684)
Other undisclosed operating income1,895      
Operating income (loss):20,45215,7995,6414,3566,3924,752(888)
Nonoperating income32263233626
Investment income, nonoperating9  1 1 
Other nonoperating income23263223616
Interest and debt expense(4,882)(4,082)(3,935)(3,926)(4,006)(4,024)(4,013)
Income (loss) from continuing operations before equity method investments, income taxes:15,60211,7191,7694532,422730(4,895)
Other undisclosed income from continuing operations before income taxes 11,212     
Income (loss) from continuing operations before income taxes:15,60222,9311,7694532,422730(4,895)
Income tax expense (benefit)1,238(837)488(130)906(401)2,380
Net income (loss) available to common stockholders, diluted:16,84022,0942,2573233,328329(2,515)

Comprehensive Income ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Net income (loss):16,84022,0942,2573233,328329(2,515)
Comprehensive income (loss), net of tax, attributable to parent:16,84022,0942,2573233,328329(2,515)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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