Posted on the Web site of Salem Communications Corp. is a quotation from the Apostle Paul: "I planted, the workers watered, but God gave the growth." You can almost hear the collective "amen" of investors in Salem, a relatively tiny Christian radio broadcasting company based in Camarillo, Calif. In the past year, it has outperformed the broader stock market, as well as some of radio's biggest players. By sticking to its religious niche and investing $300 million in two-and-a-half years to expand to 88 stations, Salem is beginning to catch the attention of some of Wall Street's biggest firms. "Because it's so focused on one area, it's really insulated from competition," says Victor B. Miller IV, analyst at Bear, Stearns & Co. He initiated coverage with a "buy" rating on May 7, the same day Salem reported its first-quarter revenues rose 18%, to $35 million.
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机译：在萨勒姆通讯公司网站上发布的是使徒保罗的名言：“我种下了，工人浇水了，但上帝给了增长。”您几乎可以听到塞勒姆（Salem）的投资者的集体“阿蒙”（Amen），塞勒姆是一家规模相对较小的基督教广播公司，总部位于加利福尼亚州卡马里洛（Camarillo）。在过去的一年中，它的表现超过了整个股票市场，也超过了一些广播公司的最大表现。通过坚持自己的宗教立场，并在两年半的时间里投资3亿美元以扩展到88个车站，塞勒姆开始引起华尔街一些最大公司的关注。 Bear，Stearns＆Co.分析师Victor B. Miller IV说：“因为它专注于一个领域，所以确实与竞争隔绝了。”他在5月7日塞勒姆报道其“收购”的同一天就开始对它进行“买入”评级。第一季度收入增长18％，达到3500万美元。
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