LBI Revs Down Just 1% In Q4
April 12, 2010 at 12:40 PM (PT)
LBI MEDIA has reported its financial results for the fourth quarter and year ended December 31, 2009. For the three months ended DECEMBER 31, 2009, net revenues decreased by $0.2 million, or 1.0%, to $25.9 million, from $26.1 million for the same period in 2008. Net revenues for the year ended DECEMBER 31, 2009 decreased by $13.4 million, or 11.5%, to $102.9 million, from $116.3 million for the same period in 2008.
Commenting on the company's earnings results, CEO/Pres. LENARD LIBERMAN said, "While the current economic environment still presents challenges for the broadcasting industry, we are encouraged by the sequential improvement we have seen in our total revenues since the second quarter. Our television segment returned to revenue growth during the fourth quarter as our stations in LOS ANGELES, HOUSTON and DALLAS recorded improved results."