Beasley profit rises

NAPLES — Beasley Broadcast Group reported profits rose 37% as the radio operator trimmed expenses in the second quarter, but revenues dropped because of advertising weakness in markets such as Fort Myers.

Beasley reported net income rose 37% to $3.9 million in the second quarter compared to the same quarter one year ago. Revenues fell 2.8% to $24.8 million in the same period. Beasley attributed the increased second-quarter earnings to lower interest expense and lower station operating expense.

Commenting on the lower revenues, Chairman and CEO George Beasley says in a statement: “Our second quarter revenue performance principally reflects overall industry weakness in the first month of the quarter, a revenue decline at our Fayetteville cluster partially related to lower levels of auto advertising and lower revenue in the Fort Myers market due to the fact that in the year ago period we hosted a concert.”