Spanish Broadcasting System Second Quarter Revenues Down
August 15, 2011 at 3:41 AM (PT)
SPANISH BROADCASTING SYSTEM consolidated net revenues fell 1% to $35.627 million and radio revenues were off 2% to $31.222 million for second quarter 2011, with a decrease in local sales in all markets but NEW YORK offset by an increase in national sales.
Television revenue was up 10% to $4.405 million. Operating income before depreciation and amortization, (gain) loss on the disposal of assets, net, and impairment charges and restructuring costs rose 3% overall to $13.089 million (radio being flat at $17 million).
Chairman and CEO RAUL ALARCON, JR. said, "During the second quarter, we continued seeing a gradual improvement in the advertising environment across select markets, including notable strength in our national sales performance. Our station brands remain very strong and continue to deliver leading rating shares across key Hispanic demographics. As we invest in our content and strategically expand our footprint, we are also continuing to carefully manage our operating costs, resulting in improved profitability across our stations. Looking ahead, we will continue to focus on strengthening our assets, maximizing our performance and capitalizing on the tremendous growth of the Hispanic population."