World Cup Helped Entravision Revenues Rise In Second Quarter 2014
August 7, 2014 at 3:58 AM (PT)
ENTRAVISION COMMUNICATIONS second-quarter net revenue rose 9% to $61,846,000, primarily attributed to television from WORLD CUP advertising, with net income up 72% to $8.735,000 (10 cents/basic and diluted share).
Radio revenue rose 8% to $18,695,000, also attributed to the WORLD CUP.
Chairman/CEO WALTER F. ULLOA said, "During the second 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, reflecting the contributions from our broadcast of the WORLD CUP. Our radio operations also produced revenue growth that we believe will be among the best in the 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 second quarter of 2013 as we benefited from the successful refinancing of our debt last AUGUST. We have continued to build our digital footprint and marketing solutions capabilities, which provide us with an integrated platform to allow advertisers and marketers to connect with Latino audiences. Looking ahead, we remain well positioned to build on our success in attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."
The company also announced a quarterly cash dividend of 2.5 cents/share, payable SEPTEMBER 20th to shareholders of record as of SEPTEMBER 15th.