Spanish Broadcasting System Revenue Down Again In First Quarter 2011
May 17, 2011 at 4:01 AM (PT)
SPANISH BROADCASTING SYSTEM first quarter radio revenue fell 2% to $26,441,000, resulting in a slight slip of less than 1% in overall revenue to $30,775,000. The decline on the radio side was attributed to local sales in NEW YORK and MIAMI, partially offset by a rise in network sales across all markets.
Television revenue rose 15% to $4,334,000. Operating income before depreciation and amortization and (gain) loss on the disposal of assets, net, showed a 12% decline for radio to $9.196.000 and an 8% decline overall to $5,459,000.
Chairman/CEO RAUL ALARCON, JR. commented, "We saw some improvement in the business environment across select markets during the first quarter. We have continued to focus on supporting our strong brands and market leadership through strategic investments in our content and distribution, while managing our costs. Looking ahead, our target audience continues to expand rapidly and our multi-media portfolio remains well positioned to attract advertisers in the nation's largest Hispanic markets."