10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-038874`
Period End Date	20190630
Filing Date	20190809
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	sga-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 62 Cash Flow Statement 31 Stockholders Equity 34

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.91M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.94M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$19.98M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.11M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.33M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$61.37M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$140.22M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.74M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$81.12M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$83.50M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$59.24M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$59.10M	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`	$18.97M	USD	Point-in-time
Goodwill	`Goodwill`	$18.84M	USD	Point-in-time
Other intangibles, deferred costs and investments, net	`OtherAssetsNoncurrent`	$12.25M	USD	Point-in-time
Other intangibles, deferred costs and investments, net	`OtherAssetsNoncurrent`	$6.69M	USD	Point-in-time
Total assets	`Assets`	$248.48M	USD	Point-in-time
Total assets	`Assets`	$247.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.84M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$7.90M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$7.37M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$3.27M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$1.78M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$4.90M	USD	Point-in-time
Barter transactions	`DeferredRevenueCurrent`	$1.31M	USD	Point-in-time
Barter transactions	`DeferredRevenueCurrent`	$1.66M	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`	$17.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.16M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$24.43M	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`	$10.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.58M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$63.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$58.56M	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`	$65.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$64.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$156.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$159.22M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$36.51M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$36.56M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$182.41M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$188.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$179.47M	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 liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$248.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$247.15M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`Revenues`	$60.01M	USD	2 Qtrs
Net operating revenue	`Revenues`	$60.24M	USD	2 Qtrs
Net operating revenue	`Revenues`	$32.23M	USD	1 Quarter
Net operating revenue	`Revenues`	$32.19M	USD	1 Quarter
Station operating expense	`DirectOperatingCosts`	$22.88M	USD	1 Quarter
Station operating expense	`DirectOperatingCosts`	$46.04M	USD	2 Qtrs
Station operating expense	`DirectOperatingCosts`	$23.14M	USD	1 Quarter
Station operating expense	`DirectOperatingCosts`	$46.54M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.85M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.71M	USD	1 Quarter
Other operating (income) expense , net	`OtherOperatingIncomeExpenseNet`	$2.00K	USD	1 Quarter
Other operating (income) expense , net	`OtherOperatingIncomeExpenseNet`	$38.00K	USD	2 Qtrs
Other operating (income) expense , net	`OtherOperatingIncomeExpenseNet`	$-213.00K	USD	1 Quarter
Other operating (income) expense , net	`OtherOperatingIncomeExpenseNet`	$-1.00K	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$8.35M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$8.57M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$6.61M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.03M	USD	1 Quarter
Interest expense	`InterestExpense`	$184.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$255.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$474.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$392.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$188.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$277.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$160.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$323.00K	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.97M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.50M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.15M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.58M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.79M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.46M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.40M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.10M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.80	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.96	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.03	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.96	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.03	USD	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,834.00	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,838.00	shares	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,843.00	shares	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,844.00	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,843.00	shares	2 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,834.00	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,838.00	shares	2 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,844.00	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.60	USD	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.60	USD	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.83M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.19M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.16M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.91M	USD	2 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$763.00K	USD	2 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	-	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-307.00K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-263.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.60M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.66M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.80M	USD	Point-in-time
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$10.09M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$3.30M	USD	Point-in-time
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$5.06M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$10.00M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$327.00K	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$547.00K	USD	2 Qtrs
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-75.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.71M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.38M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-119.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.22M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.51M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.91M	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`	$53.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.91M	USD	Point-in-time

Stockholders Equity 34 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$182.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$179.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$179.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.10M	USD	2 Qtrs
Issuance of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	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
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`	$565.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$553.00K	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`	$247.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$454.00K	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`	$253.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$262.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$182.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$179.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$179.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time

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