Net Revenues Up For LBI Media In Q1
May 16, 2011 at 12:22 PM (PT)
LBI MEDIA announced its financial results for the three months ended MARCH 31, 2011. For the three months ended MARCH 31, 2011, net revenues increased by $1.8 million, or 8%, to $25.4 million, from $23.6 million for the same period in 2010. Adjusted EBITDA decreased by $2.8 million, or 39%, to $4.3 million for the three months ended MARCH 31, 2011, from $7.1 million for the same period in 2010.
Commenting on the company's earnings results, CEO/Pres. LENARD LIBERMAN said, "We are pleased with the results of our first quarter, and with the progress we have made in our network business since the launch of ESTRELLATV. ESTRELLATV continues to shine, ranking among the highest-rated Spanish language networks in the country, and continues to contribute to our revenue growth. With our recently completed refinancing, we now have a capital structure in place to provide the liquidity and flexibility to optimize the value of our assets. Our radio and television stations are located in some of the most attractive markets for Hispanic media, and the release of the 2010 Census data confirms the strength and growth of the US Hispanic population. With the powerful growth of the underlying demographics in our markets and with the strength of our highly rated programming, we believe we are uniquely positioned to take advantage of this favorable trend and deliver outstanding performance."