Entravision Radio Revs Flat, Overall Losses Grow
May 5, 2011 at 3:10 PM (PT)
ENTRAVISION saw its net revenues grow 2% in Q1 2011, but that wasn't enough to prevent the company from its losses to more than double to over $4.4 million. Radio net revenue was essentially flat at almost $13.4 million, while operating expenses were $12.2 million.
"During the first quarter, we achieved revenue growth primarily driven by retransmission consent revenue despite continuing challenges in the advertising environment," Chairman/CEO WALTER F. ULLOA said. "Our audience shares remain strong, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience. The release of the 2010 U.S. census data reconfirms the growth and importance of the U.S. Hispanic population and our position in some of the fastest-growing and most densely-populated Hispanic markets. We remain focused on improving our operating performance while continuing to carefully manage our costs."