Soft Second Quarter For Entravision As Radio, Digital Revenues Lag

Q2

ENTRAVISION COMMUNICATIONS CORP. second-quarter 2019 net revenues fell 7% year-to-year to $69.2 million, with net income dropping from a gain of $4.8 milion to a loss of $16.3 million (5 to -19 cents/basic and diluted share). The revenue drop was attributed to decreases in digital (down 18% to $16.8 million) and radio (off 17% to $14.366 million), partially offset by TV increases (up 4% to $38.1 million).

Chairman/CEO WALTER F. ULLOA said, "Our second-quarter results were impacted by declines in our radio and digital segments compared to the prior year. However, we did achieve growth in our television segment compared to the second quarter of 2018. We continue to maintain a solid balance sheet and return capital to our shareholders through our share repurchase program and dividend. Looking ahead, we remain well positioned to build on our success in further attracting Latino and other audiences worldwide, as we execute our multi-platform strategy to the benefit of our shareholders."

The company's board also approved a quarterly cash dividend of 5 cents per share of Class A, Class B and Class U common stock,  payable on SEPTEMBER 30th to shareholders of record as of SEPTEMBER 16th. The common stock will trade ex-dividend on SEPTEMBER 13th.

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