Saga Communications, Inc. (SGA) has reported 35.91 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $1.94 million, or $0.32 a share in the quarter, compared with $3.02 million, or $0.52 a share for the same period last year. Revenue during the quarter dropped 4.08 percent to $31.41 million from $32.74 million in the previous year period. Gross margin for the quarter contracted 437 basis points over the previous year period to 20.24 percent. Total expenses were 88.90 percent of quarterly revenues, up from 83.68 percent for the same period last year. That has resulted in a contraction of 522 basis points in operating margin to 11.10 percent.
Operating income for the quarter was $3.48 million, compared with $5.34 million in the previous year period.
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