Net Revenue Down at Saga

Saga Communications Posts Q1 Net Income Gain of 23%

Saga Communications reported a net-income gain of 23% to $910,000 for the first quarter of 2008 compared with the same quarter last year. Net operating revenue for the quarter decreased $351,000 to $31.5 million.

On a same-station basis for the year, net operating revenue decreased 2%, operating income dropped 2.4% and station operating expense dropped 3.1%.

During the quarter, the company bought back 239,113 shares of stock for a price of $1.4 million.

Saga owns a large group of radio stations and five full-power TV stations, including WXVT Greenville, Miss., and KOAM Joplin, Mo.