Univision Announces 2008 Second Quarter Results
August 8, 2008 at 6:35 AM (PT)
UNIVISION COMMUNICATIONS INC. has announced financial results for the second quarter and six months ended JUNE 30, 2008. For the 2008 second quarter, net revenue declined 4.3% to $533.1 million from $557.3 million in 2007 and operating income before depreciation and amortization decreased 10.9% to $219.9 million in 2008 from $246.8 million in 2007. Excluding major soccer tournaments and political advertising, second quarter net revenue increased 0.4% and adjusted operating income before depreciation and amortization decreased 4.0%.
For the six months ended JUNE 30, 2008, net revenue increased 0.1% to $991.9 million in 2008 from $990.9 million in 2007 and operating income before depreciation and amortization decreased 5.8% to $370.8 million in 2008 from $393.5 million in 2007. Excluding major soccer tournaments and political advertising, net revenue for the first half of 2008 increased 2.2% and adjusted operating income before depreciation and amortization decreased 2.8%. The company has completed the sale of its music recording and publishing business and has reported it as well as certain non-core assets as discontinued operations for all periods presented and has not included them in the results.
CEO JOE UVA said, "UNIVISION’s Television and Radio divisions continued to outperform their industries in the quarter and results for the first six months of 2008 have kept pace with last year’s comparable six-month period, despite challenging economic conditions. We continue to leverage all of our assets to integrate our multiple platforms and provide innovative solutions to our customers. Going forward, we are focused on tapping into the full potential of the UNIVISION brand, which is #1 among Hispanics, and leveraging our deep relationship with our audience to develop new revenue streams and grow the business while keeping costs down."