Entravision Communications Q4 Net Revenue Up Slightly
February 25, 2016 at 2:18 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. reported its financial results for the three- and 12-mont periods ending DECEMBER 31st, 2015, with net revenue for the three-month period of $65.4 million from $65.3 million the year before.
Cost of revenue increased to $2.6 million for the three-month from the year before of $1.5 million, an increase of $1.1 million, due to increased online media costs associated with the increase in our digital net revenue.
Operating expenses increased to $39.6 million for the three-month period from $38.2 million for the three-month period ended the year before, an increase of $1.4 million. The increase was primarily attributable to the increase in operating expenses of PULPO MEDIA INC., which was acquired in JUNE 2014, and increases in rent expense, and salary expense.
Corporate expenses increased to $6.9 million for the three-month period from $6.3 million, an increase primarily attributable to a rise in non-cash compensation and salary expense.
Net revenue increased to $254.1 million for the 12-month period from $242 million for the year before, an increase of $12.1 million. Of the overall increase, $6.3 million was attributed to the radio segment and was primarily attributable to increases in local and national advertising revenue, partially offset by the absence of WORLD CUP and significant political advertising revenue in 2015 compared to 2014.
In addition,approximately $12.2 million of the overall increase was attributed to the digital segment, resulting from the acquisition of PULPO, which did not contribute to results in the full comparable period in 2014. These increases were partially offset by a decrease of $6.4 million that was attributed to the television segment, and a decrease in local advertising revenue, partially offset by an increase of approximately $10.5 million of revenue associated with television station channel modifications made by the company in order to accommodate the operations of a telecommunications operator, and an increase in retransmission consent revenue.
Cost of revenue increased to $7.2 million for the 12-month period from $3 million for the twelve-month period ended DECEMBER 31st, 2014.
Operating expenses increased to $153.1 million for the 12-month period from $142.7 millionthe year before, an increase of $10.4 million.
Corporate expenses increased to $22.5 million for the 12-month period from $21.3 million for the year before, an increase of $1.2 million
Commenting on the company's earnings results, ENTRAVISION Chairman/CEO WALTER F. ULLOA said: "During the fourth quarter, we achieved revenue growth driven by increases in our radio and digital media segments, as well as an increase in core television advertising revenue (excluding retransmission consent revenue and political advertising revenue). We continued to build our digital footprint through the acquisition of PULPO MEDIA, 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."