Univision Radio Revenues Up In Q3; Music Group Numbers Down
November 2, 2006 at 4:30 PM (PT)
UNIVISION RADIO third-quarter revenue climbed 6.5%, from $96.9 million to $103.2 million, while operating income was up 2%, from $41.6 million to $42.3 million. The company credited its LOS ANGELES and MIAMI stations for helping with the increase.
However, UNIVISION MUSIC GROUP Q3 revenue was down 42%, from $50.8 million to $29.5 million, and operating income fell from a profit of $9.4 million to a pro forma loss of $1.7 million. The declines were attributed to "underperforming releases, slippage in the release schedule and a continued high level of returns compounded by political and economic factors impacting music sales in the industry," a press release states.
For UNIVISION COMMUNICATIONS as a whole, net income increased from $79.2 million to $88.1 million (23-26 cents/share); on a pro forma basis, as if the company had owned the same assets for at least a year, UNIVISION earned $96.8 million (29 cents/share).
"This was another successful quarter for UNIVISION, as reflected in our strong financial performance and continuing ratings leadership," Chairman/CEO JERROLD PERENCHIO said. "We are very pleased with the momentum we are experiencing in the key areas of our business, as we continue to benefit from the strength of our assets and the rapidly increasing interest in Spanish-language media in the U.S. We remain on track to complete the previously announced sale of UNIVISION during the first quarter of 2007."