Publishing revenue at Salem Media Group fell 7.6% in the quarter ended March 31, 2018, compared to the first quarter of 2017. Sales dropped to $5.4 million from $6.5 million a year ago. The group had a net loss of $200,000 in the most recent quarter compared to earnings of $100,000 in the first period of 2017. Salem, whose primary business is radio broadcasting, also owns Regnery Publishing, which is part of its publishing group.
In a conference call discussing results, Edward Atsinger, CEO of Salem, said Salem Author Services, its self-publishing business, made up the largest component of the decline, which he attributed to a slowdown in the number of new author acquisitions. In addition, the closure of four unprofitable magazines last year contributed to the revenue decline.
Total revenue at Salem fell 1.8% in the quarter, to $63.8 million, but operating income rose 17.7% over last year’s first quarter, to $5.7 million.
