LBI Media Radio Revenues Slightly Up, TV Jumps
November 16, 2006 at 5:52 AM (PT)
LBI MEDIA third-quarter net revenues rose 11.8% to $28.9 million, credited to growth at the company's TEXAS radio stations and LOS ANGELES and TEXAS TV stations, offset slightly by softness at the company's LOS ANGELES radio cluster.
Radio division revenues rose just 0.7% to $13.8 million, although the company points out that third quarter 2005 was an exceptionally strong quarter. Net income jumped from $500,000 to $5.2 million, due primarily to a decrease in the charge related to the impairment of the company's broadcast licenses offset by higher programming, selling and general and administrative expenses.