LBI Media Increases Revenues For 2010 And Q4
March 7, 2011 at 5:45 AM (PT)
LBI MEDIA has reported its financial results for the fourth quarter and year ended DECEMBER 31st, 2010
For the three months ended DECEMBER 31st, 2010, net revenues increased by $4.8 million, or 19%, to $30.7 million, from $25.9 million for the same period in 2009. Net revenues for the 12 months ended DECEMBER 31st, 2010 increased by $12.8 million, or 13%, to $115.7 million, from $102.9 million for the same period in 2009.
Commenting on the company's earnings results, CEO/Pres. LENARD LIBERMAN said, "We are pleased to confirm our fourth quarter and full-year 2010 results, as we previously announced last month. Our owned-and-operated radio and television stations also continue to perform well and rank among the top Hispanic stations in their respective markets. Both our owned-and-operated radio and television stations showed revenue growth in the fourth quarter of 2010. With a strengthening economy and the anticipated growth in the U.S. Hispanic population, we believe that our underlying business units have strong growth prospects."