Salon Media Group, parent of Salon.com, has reported its first ever pro forma profits in Q2. The net loss was on par from last year: it lost $1.2 million versus $1.3 million in the year-ago quarter.

On a pro forma basis, excluding depreciation and amortization charges and other items, the company’s profit from operations was $163,000, or breakeven per share.

Revenues rose to $1.7 Million, a 66% increase from increase from year-ago period. Advertising revenues increased to $1.0 million from $0.4 million a year ago. Salon Premium subscribers at the end of the quarter were 75,700 compared to 66,200 a year ago.

For Q3, Salon does not expect to still be in pro forma profits, due to “seasonality”. It expects total revenues for its quarter ending September 30, 2004 to decrease to $1.3 - $1.4 million, with advertising sales comprising $0.6- $0.7 million of the total.