Entravision Sees Revenue Gain For Second Quarter
August 6, 2010 at 4:24 AM (PT)
Driven by WORLD CUP-related and Census-related advertising revenue, ENTRAVISION COMMUNICATIONS CORPORATION second-quarter overall revenue rose 10% to $53.431 million, leading the company's net income to jump from a loss of $1.827 million in 2009 to a gain of $6.963 million in 2010 (-2 cents to +8 cents/share). The gain was mostly attributed to a $3.1 million increase in the television division. Radio revenue jumped 10% to $18.612 million.
Chairman and CEO WALTER F. ULLOA said, "During the second quarter, we generated solid revenue growth, primarily driven by WORLD CUP advertising and retransmission consent revenue. Our audience shares remain strong in the nation's most densely populated Hispanic markets, and we believe that our U.S. Hispanic audience will continue to grow. In addition, our recently-completed bond offering and new revolving credit facility extend the maturity of our debt and provide additional financial flexibility as we continue to seek to enhance shareholder value."