SBS Q1 Radio Revenues Increase 5%
May 16, 2012 at 3:53 AM (PT)
SBS has reported financial for the quarter ended MARCH 31st.
The company reported consolidated net revenue totaled $32.1 million compared to $30.8 million for
the same prior year period, resulting in an increase of $1.3 million or 4%.
The radio segment net revenue increased $1.3 million or 5%, "primarily due to local sales, special event revenue and barter sales, offset by decreases in national and network sales," reported SBS. "The increase in local sales occurred in our NEW YORK, LOS ANGELES and SAN FRANCISCO markets. The increase in special event revenue occurred mainly in our PUERTO RICO and MIAMI markets. The increase in barter sales occurred throughout most of our markets. The decrease in national and network sales occurred in all of our markets."
Radio station operating expenses increased "mainly due to increases in special events expenses, barter expense, local commissions and compensation and benefits, offset by decreases in legal settlements and music license fees," noted the company.
"Our first quarter financial results improved considerably over the prior year," commented Chairman/CEO RAUL ALARCÓN, JR. "Moreover, we have continued to strengthen our operations through strategic investments in our content, marketing and digital resources. We remain committed to employing a disciplined approach to managing our operations, with the goal of driving improved financial results. Looking ahead, the advertising market remains volatile, but our brands remain strong across our market footprint and we are continuing to build on our revitalized sales force. We remain very optimistic about our long-term outlook given the ongoing dramatic growth of the Hispanic population and the increasing need for advertisers to pursue this important and influential audience."