Entravision Q2 Revenues Rise
August 1, 2013 at 3:02 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. second-quarter 2013 revenue increased 5% to $56.95 million. Radio rose 2% to $17.36 million; 80% of the increase came from television, with $1 million of the increase attributed to radio local and national ad revenue, offset by a decrease in political advertising. Net income applicable to common stockholders jumped 146% to $5.073 million (6 cents/share).
Chairman/CEO WALTER F. ULLOA said, "During the second 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 second 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."