Entravision Revenues Down In Q4
March 5, 2010 at 4:31 AM (PT)
ENTRAVISION fourth-quarter overall revenues fell 9% year-to-year to $48,066,000, with net loss applicable to common shareholders narrowed 62% to $52,023,000 (62 cents/share). The number includes an impairment charge of $48 million related to the writedown of goodwill and intangible assets of the company's broadcasting license.
Radio revenues dropped 19% for the quarter to $15,666,000. Television was off 3% to $32,400,000.
Chairman/CEO WALTER ULLOA said, "During 2009, we were confronted with a significant advertising downturn, both in television and radio, primarily as a result of the global financial crisis and recession. Nevertheless, our audience shares remained strong in the nation's most densely populated Hispanic markets. Although EBITDA declined for the full year 2009 compared to 2008, our focus on managing costs and maximizing cash flows were factors in increasing our EBITDA for the fourth quarter of 2009. Additionally, we anticipate that retransmission consent revenue will continue to be a growing source of revenue, along with advertising revenue from World Cup and political activity during 2010."