In addition to announcing a revenue-sharing deal with Big Machine Recordstoday, Beasley Broadcast Group has also announced its fourth quarter and full year fiscal report for 2012. In Q4, Beasley's net revenue grew by 9.1 percent, from $25.2 million in 2011 to $27.4 million in 2012. Station operating income was up 14.3 percent to $10.8 million, with operating income up by 16.7 percent to $8.1 million. Net income in Q4 2012 grew by 6.4 percent to $3.6 million. The increase in Q4 net revenue was attributed to political advertising during the period, the acquisition of KOAS/Las Vegas in the 2012 third quarter, and strength in the company’s Philadelphia, Las Vegas, Fort Myers and Augusta market clusters.
For the full year 2012, net revenue was up by 2.6 percent from $97.7 million in 2011 to $100.2 million last year. Station operating income grew by 9.7 percent to $37.7 million, operating income grew 14.9 percent to $27.5 million and net income for 2012 was up by 9.2 percent to $11 million, from $10.1 million in 2011.
Commenting on the results, Chairman/CEO George G. Beasley said, "Beasley Broadcast Group ended 2012 strongly as fourth quarter net revenue rose 9.1 percent and same station net revenue increased 5.7 percent. Fourth quarter revenue growth reflects several factors including the cyclical return of political advertising particularly in our Las Vegas, Miami and Wilmington market clusters, continued strength in key advertising categories including automotive, a full quarter’s contribution from KOAS-FM in Las Vegas which was acquired in the third quarter, and overall strength in the Company’s Philadelphia, Las Vegas, Fort Myers and Augusta market clusters."