Beasley Broadcast earns $2.8M

NAPLES — Profits grew 38% over the year for Beasley Broadcast Group Inc. (symbol: BBGI) in the recently concluded quarter, to $2.8 million. Net revenues increased 2.3% for the Naples-based radio broadcast company, to $25.5 million, while expenses stayed flat.

In particular, growth at Beasley's Miami-Fort Lauderdale and Philadelphia operations helped fuel the revenue increase, while operating expenses were consistent at $19 million.

The company also spent $700,000 less on interest payments toward short-term debt in the recently concluded quarter. Says CEO George Beasley: “We ended the second quarter with our lowest leverage since mid-2006 and remain committed to using cash from operations to further lower debt and other initiatives which can enhance shareholder value.”