Beasley Broadcast Group, Inc. (BBGI) has reported a 311.18 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $7.49 million, or $0.27 a share in the quarter, compared with $1.82 million, or $0.08 a share for the same period last year.

Revenue during the quarter surged 95.74 percent to $53.74 million from $27.45 million in the previous year period. Total expenses were 78.52 percent of quarterly revenues, down from 84.96 percent for the same period last year. This has led to an improvement of 644 basis points in operating margin to 21.48 percent.

Operating income for the quarter was $11.54 million, compared with $4.13 million in the previous year period.

Commenting on the financial results, Caroline Beasley, chief executive officer, said, "Our first quarter revenue, SOI and net income growth reflect the contributions from the Greater Media stations, partially offset by the absence of political revenue and softer national revenue trends. On a reported basis, the 95.7% increase in consolidated first quarter net revenue drove SOI growth of 31.1%. Pro forma revenue was down 5.7%, or $3.3 million, of which approximately $1.0 million was attributable to the lack of political revenue, with the remainder attributable to transitional matters related to the Greater Media stations as well as lower national revenues. This was partially offset by a 5.7% reduction in pro-forma first quarter operating expenses."

Cash flow from investing activities was $22.15 million for the quarter as against cash outgo of $0.66 million in the last year period.

The company has spent $29.75 million cash to carry out financing activities during the quarter as against cash outgo of $4.19 million in the last year period.