Saga Communications 2021 First Quarter Net Revenue Down 15.5%. The 2021 first quarter financial report from
Saga Communications reveals net revenue for the period was $22.3 million, a decrease of 15.5% from the same period in 2020. Net income was $758,000, a decline of 75% from the net income of $1.68 million posted in Q1 of 2020 (although Saga was one of the few audio companies to post income and not a loss). Station operating expense decreased $3.3 million to $18.9 million for the quarter compared to the same period in 2020. Station operating income was $4.7 million for the quarter compared to $5.5 million for the first quarter last year. Free cash flow increased 21.4% to $1.8 million for the quarter. Saga Communicationâs balance sheet reflects $56.3 million in cash on hand as of March 31, 2021 and $57.4 million as of May 3, 2021. The companyâs total bank debt remained at $10 million as of the end of the first quarter 2021.
‘Panic-buying’ leaving gas stations dry amid Colonial Pipeline shutdown WSOCTV.com News Staff
Many local gas stations are running out of fuel while others are raising prices amid the Colonial Pipeline shutdown. Channel 9 was out at several gas stations early Wednesday and most of them had cars lined up with drivers waiting to fill their tanks. One driver said he had waited for more than four hours before sunrise to fill up.
Some drivers have been waiting for hours overnight to fuel up at this gas station along Ballantyne Commons Parkway. I talked to one driver who told me he ran out of gas & had to push his car to the one working pump here. @wsoctvpic.twitter.com/WA9FpoNPxx Anthony Kustura (@AnthonyWSOC9) May 12, 2021
Gas prices rising, State of Emergency issued after Colonial Pipeline cyberattack WSOCTV.com News Staff
North Carolina Gov. Roy Cooper on Monday signed an executive order declaring a State of Emergency in the state due to the temporary shutdown of the Colonial Pipeline.
Colonial Pipeline says a cyberattack forced it to temporarily halt all operations on a major pipeline that delivers roughly 45% of all fuel consumed on the East Coast.
“Today’s emergency declaration will help North Carolina prepare for any potential motor vehicle fuel supply interruptions across the state and ensure motorists are able to have access to fuel,” said Cooper in a statement.
Colonial Pipeline hoping to restore service by end of week following cyberattack
AP Photo
The operator of a major U.S. pipeline hit by a cyberattack says it hopes to have service mostly restored by the end of the week.
Posted: May 10, 2021 1:32 PM
Updated: May 10, 2021 2:46 PM
Posted By: The Associated Press
WASHINGTON (AP) - The operator of a major U.S. pipeline hit by a cyberattack says it hopes to have service mostly restored by the end of the week.
Colonial Pipeline offered that update Monday after revealing that it had halted operations because of a ransomware attack.
The FBI has linked the attack to a criminal gang. The cyberattack is raising concern that supplies of gasoline, jet fuel and diesel could be disrupted in parts of the East Coast if the outage lasts several more days.
UPDATE: President Biden spoke about the issue during remarks from the East Room Monday afternoon.
.@POTUS: I d like to start by saying a few words about the ransomware cyberattack currently impacting Colonial Pipeline. Original post
Biden Administration officials told reporters Monday afternoon that a criminal gang called DarkSide is behind the cyber attack against the Colonial Pipeline system, which supplies the East Coast with forty five percent of its energy. The group installed ransomware and is demanding payment. We re taking a multi-pronged and whole of government response, says Deputy National Security Advisor for Cyber & Emerging Technologies Anne Neuberger. We re actively investigating the incident and its culprits. pic.twitter.com/qEJI7b0KnA Steve Herman (@W7VOA) May 10, 2021