SBS Q1 Radio Revenues Up 12%
May 12, 2010 at 4:03 AM (PT)
SPANISH BROADCASTING SYSTEM first quarter radio revenue jumped 12% year-to-year to $27.08 million and television rose 4% to $3.766 million, resulting in an overall increase of 11% to $30.846 million. The radio rise was credited to special events in LOS ANGELES and PUERTO RICO, and to local sales increases everywhere but CHICAGO. Operating income before depreciation and amortization increased 132% to $6 million.
Chairman and CEO RAUL ALARCON, JR. said, "Our first quarter results reflect the positive impact of the recovering ad market, combined with our efforts to monetize our audience shares, while aggressively controlling costs. The fundamentals of our business continue to improve, and we have now generated improved cash flow from our operations for the fifth consecutive quarter. As the economy continues to rebound, we believe advertisers will increasingly recognize the benefits of our multimedia platform in reaching the nation's fast-growing Hispanic population. We remain focused on further strengthening our audience shares, while maximizing our proprietary content across our radio, television and online properties. We will also continue to seek avenues to drive efficiencies across our business, with the goal of converting our revenue growth into improved operating margins and increased cash flow."