Beasley profit falls 51%

NAPLES — Radio station operator Beasley Broadcast Group reported net income fell 51% to $1.2 million on revenues of $24.7 million in the third quarter compared with the same period one year ago.

The company says a $2.6 million pretax charge for loss on the extinguishment of long-term debt resulted in the drop in profits in the third quarter.

However, Beasley reported operating income rose 15.2% to $6.5 million in the third quarter compared with the same quarter one year ago. The company says operating income grew from a combination of lower expenses and net revenue that rose 3.1%.