Entravision Revenues Rise Overall But Radio Flat For Second Quarter
August 3, 2016 at 3:44 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. second-quarter 2016 net revenue rose 8% year-to-year to $64.8 million, with net income up 9% to $5.7 million (flat at 6 cents on a per share basis). Free cash flow jumped 46% to $11.8 million. The increase in revenue was credited to the television and digital segments; radio was flat at $19.6 million for the quarter.
Chairman/CEO WALTER ULLOA said, "During the second quarter, we achieved revenue growth driven by increases in our television and digital media segments. We also improved our free cash flow and net income over the second quarter of 2015. We continued to build our digital footprint through 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."
The company's Board of Directors has also approved a quarterly cash dividend of $0.03125 per share of the Company's Class A, Class B and Class U common stock, payable on SEPTEMBER 30th to shareholders of record as of SEPTEMBER 15th.