• by Erik Sass  @eriksass1, August 6, 2009

Radio groups released more grim second-quarter results, with Saga, Radio One and Entravision all reporting double-digit revenue declines compared to the same period last year. As expected, the drops in revenue also resulted in declines in earnings, despite a push to lower expenses at all three companies.

In the second quarter, Saga Communications said net operating revenue declined 15.3% compared to the 2008 total of $31.6 million, while net income fell from $3.5 million to $2.7 million -- a 23% drop. Cost-reduction initiatives yielded a $4 million decrease in station operating expenses, from $27.3 million to $23.3 million -- a 15% drop.

Meanwhile, Radio One -- which operates urban format stations in a number of big cities -- said revenues fell 16% in the second quarter of 2009 compared to 2008, from $83.4 million to $70.1 million. Radio One President and CEO Alfred Liggins warned: "The significant cost-reduction program that we launched in 2008 has mitigated to some degree the impact of falling revenues on the bottom line. But there is no doubt that the operating environment will remain very challenging for the rest of 2009."

Finally, Entravision Communications, which targets Latino audiences, said net revenues fell 23% in the second quarter, from $62.9 million to $48.7 million. Like Saga and Radio One, Entravision emphasized the substantial cost reductions achieved in this time period, with operating expenses down 20% to $29.7 million. Nonetheless, earnings fell 27%, from $22.3 million to $16.3 million.

Cumulus Media said Wednesday that total radio revenues fell 21% in the second quarter of 2009 compared to the same period in 2008, from $83.6 million to $66 million -- while Entercom Communications reported an 18% decline from $123.8 million to $101.3 million, and Beasley Broadcast Group said revenues fell 24%, from $31 million to $23.6 million.

Last month, Emmis Communications reported that radio revenues fell 27%, from $63.6 million to $46.2 million.