Spanish Broadcasting System Preliminary Q4 Figures Show Revenue Growth
January 19, 2012 at 4:27 AM (PT)
SPANISH BROADCASTING SYSTEM, INC. has released its preliminary financial results for fourth quarter 2011, showing that the company expects consolidated net revenue to grow 7.5% to 9% to between $37.5 million and $38.0 million, narrowing the television division's station operating loss. In addition, the company predicts operating income before depreciation and amortization, (gain) loss on the disposal of assets, net and impairment charges and restructuring costs to be between $10.5 million and $11.5 million, an increase of 10% to 21%.
"The significant improvement in our results for the fourth quarter reflects the continued benefits of a healthier advertising environment, the strength of our broadcasting properties and affiliated special events, and a singular focus on achieving profitability in our television segment," said RAUL ALARCON, JR., Chairman and CEO. "We are further monetizing and expanding our audience reach, while effectively managing our costs, which is leading to increased cash flow from our business. Moving forward, we remain well positioned in the nation's largest Hispanic markets and are focused on generating improved financial performance and long-term value."