Entravision Fourth Quarter Revenues Rise, Loss Narrows
March 3, 2011 at 3:58 AM (PT)
ENTRAVISION COMMUNICATIONS CORP. net revenue rose 5% year-to-year to $50.647 million and its net loss narrowed 15% to $29.273 million (35 cents/basic and diluted share) for fourth quarter 2010. $1.2 million of the revenue boost came from radio (an 8% increase), and was attributed to political advertising sales.
Chairman/CEO WALTER F. ULLOA said, "During 2010, we saw growth in our revenues, which were positively affected by increased advertising primarily relating to the WORLD CUP and political activity. In addition, we continue to achieve increased retransmission consent revenue. Our audience shares remain strong in the nation's most densely populated Hispanic markets, and we believe we remain well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience. We remain focused on improving our operating performance by capitalizing on the recovering advertising market, while continuing to carefully manage our costs."