Entravision Q1 Revenues Up Despite Net Loss
May 3, 2007 at 5:06 PM (PT)
ENTRAVISION's saw a $3.2 million loss (3 cents per share) in first quarter 2007, compared to a $12.1 million gain (11 cents) in Q1 2006. Revenue was up 7%, from $59.9 to $63.9 million; excluding the 2006 net revenue contributed by the radio stations in TUCSON and DALLAS the company sold in 2006, net revenue would have increased by $5.5 million. Some $900,000 of the overall increase was from ENTRAVISION's radio segment.
Chairman/CEO WALTER ULLOA said, "We entered 2007 with strong momentum across all of our operating segments as we continued to execute on our business plan to maximize the growth potential of our assets. Our robust first quarter performance reflects our ability to convert our audience share growth into advertising revenues. We are very well positioned to continue to benefit as more and more advertisers seek to penetrate our fast-growing, densely populated Hispanic markets. Going forward, we will continue to explore opportunities to enhance our asset base as we seek to further improve our operating leverage and strengthen our footprint in the nation's most attractive Hispanic markets."
ENTRAVISION expects Q2 net revenue to be flat.