Saga Communications to Postpone Release of Q4, FY10 Earnings

Saga Communications, Inc (SGA) announced that it will postpone the release of its Q4 and year-end 2010 earnings release and conference call due to health related issues of a family member of one of the key members of its accounting department that resulted in delays in the finalization of certain of the company’s year-end analysis.

Saga Communications reported preliminary results including an increase in net revenue of 7.4% for the quarter ended December 31, 2010 to $34.1 million versus consensus $34.1 million. For the same period, operating income increased 35.7% to $9.0 million (excluding any charge for impairment of intangible assets) and free cash flow increased 8.7% to $7.2 million.

Saga Communications, Inc. is a broadcasting company whose business is devoted to acquiring, developing and operating broadcast properties. The co. was founded in 1986 and is headquartered in Grosse Pointe Farms, Michigan.

SGA gained 40 cents, or 1.40 percent, to $28.90 as of 2:01 p.m. in New York.

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