SALEM COMMUN CP CL A
			Symbol			SALM

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Salem Communications Announces Second Quarter 2009 Total Revenue of $50.1 Million

2009-08-06 18:35 ET - News Release

CAMARILLO, CA -- (MARKET WIRE) -- 08/06/09

Salem Communications Corporation (NASDAQ: SALM), a leading U.S. radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values, released its results for the three and six months ended June 30, 2009.

Second Quarter 2009 Results

For the quarter ended June 30, 2009 compared to the quarter ended June 30, 2008:

--  Total revenue decreased 12.8% to $50.1 million from $57.5 million;
--  Operating expenses, including impairment of goodwill and indefinite-
    lived assets and cost of denied tower site and abandoned projects,
    increased 20.2% to $56.7 million from $47.1 million;
--  Operating expenses excluding impairment of goodwill and indefinite-
    lived assets, cost of denied tower site and abandoned projects and gain or
    loss on disposal of assets decreased 14.6% to $40.3 million from $47.1
    million;
--  Operating loss from continued operations was $6.5 million in the
    current quarter as compared to operating income of $10.3 million in the
    prior year;
--  Net loss was $5.0 million, or $0.21 net loss per share, compared to
    net income of $3.5 million, or $0.15 net income per diluted share;
--  EBITDA was a loss of $2.0 million for the quarter as compared to
    earnings of $14.8 million; and
--  Adjusted EBITDA decreased 6.9% to $13.7 million from $14.7 million.
    

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