Entravision Q4 Revenue Rises
February 22, 2007 at 1:52 PM (PT)
ENTRAVISION reported Q4 revenue was up 1%, from $73.2 million to $74.2 million, while net income grew from $3.4 million (3 cents per share) to $21.4 million (20 cents). The company said that excluding the 2006 and 2005 net revenue contributed by its radio stations in SAN FRANCISCO/SAN JOSE, TUCSON and DALLAS that it sold in 2006, net revenue would have increased by $4.3 million rather than by $1 million. For the radio segment itself, revenue was off 6%, from $25.2 million to $23.8 million; on a pro forma basis, radio revenue was up 9%, from $21.5 million to $23.4 million.
Chairman/CEO WALTER ULLOA said, "Once again we outpaced the general market, with strength across all three of our operating divisions as we benefited from the growth of the U.S. Hispanic consumer and the desire of local and national advertisers to target this expanding market. As we enter 2007 we are focused on our core strengths and the execution of our growth strategy. With a unique group of assets positioned in the most dynamic Hispanic growth markets in the U.S. and a sound balance sheet we remain well positioned to generate long-term value for our shareholders."