10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-025258`
Period End Date	20190331
Filing Date	20190510
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	sga-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 30 Cash Flow Statement 30 Stockholders Equity 19

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.03M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$19.98M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.93M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.56M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.64M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.33M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$59.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.59M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$141.00M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$140.22M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$81.12M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$82.62M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$59.10M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$58.74M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$95.25M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$95.31M	USD	Point-in-time
Goodwill	`Goodwill`	$18.84M	USD	Point-in-time
Goodwill	`Goodwill`	$18.97M	USD	Point-in-time
Other intangibles, deferred costs and investments, net	`OtherAssetsNoncurrent`	$6.69M	USD	Point-in-time
Other intangibles, deferred costs and investments, net	`OtherAssetsNoncurrent`	$12.76M	USD	Point-in-time
Total assets	`Assets`	$248.48M	USD	Point-in-time
Total assets	`Assets`	$245.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.61M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$7.90M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$6.22M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$3.27M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$4.64M	USD	Point-in-time
Barter transactions	`DeferredRevenueCurrent`	$1.31M	USD	Point-in-time
Barter transactions	`DeferredRevenueCurrent`	$1.54M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.16M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$23.91M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$23.73M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$15.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$15.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$63.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$60.13M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$76.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$76.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$64.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$65.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$156.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$156.28M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$36.27M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$36.56M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$179.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$179.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$248.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$245.45M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`Revenues`	$28.01M	USD	1 Quarter
Net operating revenue	`Revenues`	$27.82M	USD	1 Quarter
Station operating expenses	`DirectOperatingCosts`	$23.16M	USD	1 Quarter
Station operating expenses	`DirectOperatingCosts`	$23.40M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.54M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.69M	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$-3.00K	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$251.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.32M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.97M	USD	1 Quarter
Interest expense	`InterestExpense`	$208.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$219.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$89.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$163.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.19M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.92M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$550.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$660.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.84M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.84M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.84M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.84M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.30M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.37M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.50M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.21M	USD	1 Quarter
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$763.00K	USD	1 Quarter
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	-	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-294.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-249.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.73M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.80M	USD	Point-in-time
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$3.30M	USD	Point-in-time
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$5.06M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$8.31M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$80.00K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$93.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.14M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.40M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.24M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.56M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.79M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.79M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.03M	USD	Point-in-time

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$179.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$179.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Issuance of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$1.78M	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$1.78M	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$551.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$559.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$93.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$80.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$262.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$253.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$179.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$179.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.