Entravision Revenues Rise In Q1 2014
May 8, 2014 at 3:16 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. first quarter 2014 revenue rose 7% to $52.656 million, with net income rising form a loss of $957,000 in 2013 to a gain of $4.388 million in 2014 (5 cents/basic and diluted share). Most of the increase was attributed to television, with radio responsible for $800,000 of the $3.6 million increase: radio revenue rose 6% to $14.915 million. The company's board also approved a 2.5 cents/share quarterly cash dividend, payable on JUNE 30th to shareholders of record as of JUNE 13th.
Chairman/CEO WALTER F. ULLOA said, "During the first quarter, we achieved continued growth in core advertising revenue (excluding retransmission consent revenue and political advertising revenue) as our television segment again outperformed the television broadcast industry. Continuing the trend of the last several years, we also experienced an increase in retransmission consent revenue. We also improved our free cash flow and net income over the first quarter of 2013 as we benefited from the successful refinancing of our debt. Our audience shares remain strong in the nation's most densely populated Latino markets, and we believe we are well positioned to benefit as the U.S. Latino market continues to expand and advertisers increasingly recognize the importance of reaching our target audience."