Entravision Second Quarter Sees Radio Up, TV Bringing Overall Revenues Down
August 6, 2015 at 4:38 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. second quarter net revenue dropped 3% to $59.9 million, with net income down 40% to $5.24 million (6 cents/basic and diluted share). Radio rose by $900,000 but television fell by about $6.7, mostly due to the absence of WORLD CUP and political ad revenue coupled with a decrease in national advertising revenue, partially offset by increases in local ad revenue and retransmission consent revenue.
Chairman and Chief Executive Officer WALTER F. ULLOA said, "During the second quarter, we faced challenging comparisons to last year's second quarter, particularly in our television segment, when we benefited from WORLD CUP and political advertising revenue. Nevertheless, we continued to increase our radio segment revenue and build our digital footprint through the acquisition of PULPO MEDIA in JUNE 2014, which provides 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."
ENTRAVISION's Board of Directors has also approved a quarterly cash dividend to shareholders of $0.025 per share of Class A, B, and U common stock, payable on SEPTEMBER 30th to shareholders of record as of SEPTEMBER 15th; the common stock will trade ex-dividend on SEPTEMBER 11th.