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SALM - Salem Communications


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I just took a look. Expenses have risen quiet alot and are expected to increase a bit in Q1 while revenues dip. EV=400m'ish, FY14 ebitda = 50m'ish = EV/ebitda = 8. Guess the key is to figure out normalized expenses if we're not there yet?

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I just took a look. Expenses have risen quiet alot and are expected to increase a bit in Q1 while revenues dip. EV=400m'ish, FY14 ebitda = 50m'ish = EV/ebitda = 8. Guess the key is to figure out normalized expenses if we're not there yet?

 

Based on the Q4 transcript, expenses were impacted by acquisitions and one-time items. Q1 results will be out in a few days.

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