Entravision Q1 Revenues Rise, But Radio's Flat
May 9, 2012 at 3:48 AM (PT)
ENTRAVISION COMMUNICATIONS first-quarter overall net revenue rose 6% to $46.524 million, with net income down 23% to a loss of $3.395 million (-4 cents/share). Radio revenues remained basically flat, going from last year's $13.376 million to this year's $13.360 million, while television revenue rose 8% to $33.164 million.
Chairman/CEO WALTER ULLOA said, "During the first quarter, we achieved revenue growth primarily driven by an increase in core television advertising and an increase in retransmission consent revenue, despite continuing challenges in the advertising environment, as our advertising customers continue to make difficult choices in the current uncertain economic environment. Our audience shares remain strong in the nation's most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience."