Univision Revs Down 12% For Q1
May 15, 2009 at 7:43 AM (PT)
UNIVISION COMMUNICATIONS has announced financial results for the first quarter ended MARCH 31, 2009. For the first quarter of 2009, net revenue declined 12.0% to $410.3 million from $466.4 million in 2008 and adjusted operating income before depreciation and amortization1 increased 3.5% to $153.8 million in the first quarter of 2009 from $148.6 million in 2008.
CEO JOE UVA said, "We continued to aggressively manage through the recessionary market conditions in the first quarter by diligently reducing costs across our business and maximizing efficiencies, while still investing in strategic opportunities that will be key to Univision’s long-term success. Given the current environment, we were pleased with our results and that we continued to outperform our English-language peers. We have already begun to see the impact of our success in signing multi-year retransmission agreements, which has created an entirely new built-in revenue stream for the Company."
UVA continued, "We are also pleased with the feedback we have received from the upfront Partnership Forums we held across the country over the last several weeks. Our message that the U.S. Hispanic community can be a growth market for advertisers in the current environment is resonating among both new and existing clients, and the fact that the UNIVISION NETWORK continued to see strong audience growth in the first quarter only further underscores our unique positioning."