Salem Communications Corp. in Camarillo, a provider of Christian-oriented radio, Internet and printed materials, announced record results for the third quarter that ended Sept. 30.
The company said its net broadcasting revenue for the quarter increased 28.2% to $27.7 million, from $21.6 million in the same period a year earlier. Broadcast cash flow increased 15.4% to $12 million from $10.4 million in the corresponding 1999 period.
These results reflect growth at existing radio stations as well as the effect of newly acquired properties. On a same-station basis, net broadcasting revenue and broadcast cash flow increased 13% and 7%, respectively, compared with the third quarter of 1999.
The company's nonbroadcast media businesses, OnePlace.com and CCM Communications, reported a loss of $1.2 million for the quarter, compared with a loss of $1.4 million for the same period in 1999.