LBI Media Preliminary Q4 Revenue Shows 19% Jump
February 11, 2011 at 4:00 AM (PT)
LBI MEDIA, INC. has released its preliminary fourth-quarter financials, and the company said it expects net revenue to jump 19% year-to-year to $30.7 million, with adjusted EBITDA up between 37% and 45% to between $8.7-$9.2 million.
CEO/Pres. LENARD LIBERMAN said. "As the U.S. economy strengthens and the advertising industry continues to expand, LBI continues to benefit from the strong position of its radio and television assets. Our radio and television stations continue to rank among the top Hispanic stations and our programming continues to capture the attention of audiences and advertisers. Additionally, it has been a little over a year since our ESTRELLATV network has launched, and we believe the performance and growth of the network has been a resounding success that has contributed significantly to the value of our company.
"Our preliminary results for the fourth quarter of 2010 represent the fourth consecutive quarter of year-over-year revenue growth. We are experiencing revenue growth in both our core radio and television segments. ESTRELLATV has also contributed to our revenue growth, showing sequential revenue growth every quarter since we launched the network. ESTRELLATV truly shines and has surpassed our initial ratings and revenue expectations."
The company, which will report official numbers on MARCH 7th, did not break out radio revenue performance.