Saga munications(SGA) - 2024 Q1 - Quarterly Results

Financial Performance - Net revenue decreased by 2.5% to $24.7 million for Q1 2024 compared to$25.3 million in Q1 2023[1] - Operating loss for the quarter was $2.4 million, a decline from operating income of$905 thousand in the same period last year[1] - Net loss for the quarter was $1.6 million compared to net income of$920 thousand in Q1 2023[1] - Diluted loss per share was $0.25 in Q1 2024, down from earnings of$0.15 per share in Q1 2023[1] Expenses and Capital Expenditures - Station operating expenses increased by 5.9% to $23.0 million for the quarter[1] - Capital expenditures were$1.1 million for the quarter, down from $1.4 million in the same period last year[1] - The company expects to spend approximately$5.0 – $5.5 million on capital expenditures during 2024[3] Dividends and Shareholder Returns - The company paid a quarterly dividend of$0.25 per share, totaling approximately $1.6 million[2] - Total dividends paid to shareholders since 2012 exceeded$130 million, with plans for future regular and special dividends[2] Cash and Investments - As of March 31, 2024, the company had $28.8 million in cash and short-term investments[3]