SBS Narrows Q4 Loss
March 13, 2008 at 12:36 PM (PT)
SPANISH BROADCASTING SYSTEM said its fourth quarter loss narrowed as its television segment boosted revenue. The COCONUT GROVE-based radio and television station owner and operator said it lost $4.96 million, or 10 cents a share, on revenue of $46.17 million in the fourth quarter. In the prior-year quarter, it said it lost $6.94 million, or 13 cents a share, on revenue of $44.42 million.
SPANISH BROADCASTING attributed the revenue growth to its television segment, which it said grew 80%, to $3.02 million from $1. 68 million, as MEGATV established itself within the SOUTH FLORIDA advertising community.
The company's radio segment saw smaller growth, to $43.15 million from $42.74 million.
For the full year, SPANISH BROADCASTING said it earned $981,000, or a 12-cents-a-share loss, on revenue of $179.75 million. In 2006, it earned $49.87 million, or 56 cents a share, on revenue of $176.93 million.