Entravision Posts Q4 Loss
February 29, 2008 at 5:28 AM (PT)
ENTRAVISION COMMUNICATIONS CORP posted a quarterly net loss, saying that it was hurt by the continuing softness in the advertising market. The company reported a net loss of $48 million, or 49 cents a share in the fourth-quarter compared with a net income of $21.4 million, or 20 cents a share, a year ago.
ENTRAVISION posted a net income of 21 cents a share from continuing operations, recording a $80.5 million impairment charge of outdoor intangible assets for the same period. Net revenue for the present quarter was $62.5 million and the company expects it to decrease by low-single digit percentages in the first quarter.
Analysts were expecting ENTRAVISION to report earnings of 2 cents a share, on revenue of $73.12 million, before items, according to REUTERS Estimates.