Entravision Revenues Rise In Q1
May 2, 2013 at 1:56 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. first-quarter revenue rose 6% to $49.1 million, with net loss narrowing 72% to $957,000 (1 cent/share). Two-thirds of the revenue increase -- $1.8 million out of $2.6 million -- came from the television side, with radio responsible for $800,000 of the additional dollars, mostly from national ad revenue. Radio revenue rose 6% to $14.1 million.
Chairman and CEO WALTER ULLOA said, "During the first quarter, we achieved revenue growth driven by increases in both our television and radio segments. Core revenue (excluding retransmission consent revenue and political advertising revenue) from our television and radio segments outperformed their respective industry averages, and we improved our free cash flow over the first quarter of 2012. 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."