You don’t often hear radio executives get very specific about their stock price during an earnings call, but that’s exactly what Saga CFO Sam Bush did Thursday. Bush said what was going on with Saga’s stock was not appropriate. He said the stock price jumping from a low of $21 to $23 on 752 shares traded was an overreaction to the coronavirus and had nothing to do with the company’s financial performance.
Saga’s Q4 2019 net revenue of $31.8 million was down from $32.9 million from Q4 2018.
Q4 2019 political revenue for Saga was $535,000, compared to $1.6 million in 2018. For the year Saga’s political revenue was $887,000, compared to $2.9 million in 2018.
Saga’s free cash flow in the quarter was $5.4 million and $18.1 million for the year. The company has $47 million in cash in the bank.