Saga Communications Earnings Slide In Q4, Stock Up

(RTTNews) - Saga Communications, Inc. (SGA), a media company, on Tuesday announced that its fourth-quarter net income decreased, compared with last year.

Shares of Saga Communications are increasing in the open market now.

In the fourth quarter, net income was $1.27 million, down from $2.50 million last year.

Earnings per share was $0.20 versus $0.40 in the previous year.

On a pro forma basis, net income came in at $1.27 million, down from $2.64 million in the previous year.

Earnings per share on a pro forma basis were $0.20 compared to $0.43 last year.

Operating income on a pro forma basis came in lower at $984 million from $3.34 million the previous year.

Revenue declined 1.3% to $28.77 million from $29.15 million in the previous year's quarter.

Saga is currently trading, 5.90% higher at $11.7 on the Nasdaq.