Radio operator sings soft sales song

NAPLES — Beasley Broadcast Group, in its financial results from the first quarter, cited a weak advertising climate in Tampa-St. Petersburg and other markets where it operates.

Beasley reported $1.3 million in net income on revenues of $17.8 million in the first quarter ending March 31. That compares with net income of $682,872 on revenues of $9.6 million in the same quarter one year ago.

While the company's results were positive, Beasley says it is more accurate to view them on a pro-forma basis. On a pro-forma measure, the acquisition of 14 stations in late 2014 showed net revenue fell 10.3% in the first quarter and station operating income fell 12.2%. In December, Beasley completed a radio-station exchange with CBS Radio in which Beasley acquired 14 stations in the Tampa-St. Petersburg, Charlotte and Philadelphia markets. The Naples-based company owns and operates 53 stations in 12 large- and mid-size markets in the U.S.