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Salem Communications posts 4Q profit

CAMARILLO, Calif. (AP) _ Salem Communications Corp. (SALM) on Thursday reported fourth-quarter profit of $3 million.

On a per-share basis, the Camarillo, California-based company said it had net income of 11 cents. Earnings, adjusted for asset impairment costs and stock option expense, came to 27 cents per share.

The multimedia company posted revenue of $70.7 million in the period.

For the year, the company reported profit of $8.9 million, or 34 cents per share. Revenue was reported as $274.3 million.

Salem Communications shares have risen 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.90, a rise of 39 percent in the last 12 months.

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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

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Keywords: Salem Communications, Earnings Report