CAMARILLO, Calif. (AP) _ Salem Communications Corp. (SALM) on Monday reported a first-quarter loss of $55.2 million, after reporting a profit in the same period a year earlier.
The Camarillo, California-based company said it had a loss of $2.07 per share. Losses, adjusted for asset impairment costs, were $1.58 per share.
The multimedia company posted revenue of $58.3 million in the period.
In the final minutes of trading on Monday, the company’s shares hit 99 cents. A year ago, they were trading at $2.07.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SALM at https://www.zacks.com/ap/SALM
The Associated Press