LBI Media Q1 Revenues Up
May 15, 2007 at 1:39 PM (PT)
LBI MEDIA first-quarter net revenues rose 13% to $2.9 million, attributed to growth in DALLAS radio and at the company's TV stations. However, the company's net income fell from a gain of $1.2 million to a loss of $46.4 million, based on a one-time $46.9 million charge for tax adjustments. Radio revenues rose 23% to #12.1 million.
EVP LENARD LIBERMAN said, "While the first quarter was challenging in the area of national sales, we have been fortunate in that the various programming changes we implemented have been well received by our audiences."