Entravision Revenues, Income Slip For Second Quarter
August 4, 2011 at 3:57 AM (PT)
ENTRAVISION COMMUNICATIONS CORP. overall net revenues fell 6% year-to-year to $50.265 million for second quarter. Net income applicable to common stockholders fell from a gain of $6.963 million to a loss of $352,000 for the quarter.
Radio revenue fell 8% to $17.147 million, with television off 5% to $33.118 million; the drops in revenue were primarily attributed to the loss of WORLD CUP soccer revenue, which boosted 2010's figures.
Chairman and CEO WALTER ULLOA said, "During the second quarter of 2011, we faced challenging comparisons to last year's second quarter, when we benefited from WORLD CUP, political and census advertising revenue. Nevertheless, 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."