Entravision Radio Revenues, Overall Net Income Fall In Second Quarter, But Headway Acquisition Boosts Digital

Q2 Results

ENTRAVISION COMMUNICATIONS CORP. second-quarter net revenue increased 9% to $70.509 million, with $9.5 million attributed to the acquisition of HEADWAY for the digital segment, but net income fell 39% to $3.495 million (4 cents/basic and diluted share). Radio revenue fell 12% to $17.163 million due to decreases in both local and national ad revenue and the loss of political revenue after the election year. Television was also down 4% to $37.764 million. With the HEADWAY acquisition, the digital segment's revenues jumped 157% to $15.582 million.

"During the second quarter, we achieved revenue growth driven by increases in our digital media segment attributable to the acquisition of HEADWAY," Chairman/CEO WALTER F. ULLOA said. "This growth in our digital media segment offset decreases in our radio segment and television segment, which were affected by the loss of political advertising revenue compared to 2016.  We continued to build our digital footprint and, looking ahead, we remain well positioned to build on our success in further attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."

The company also announced that its Board of Directors approved a quarterly cash dividend of 5 cents per share of the Company's Class A, Class B and Class U common stock, up from 3.125 cents in first quarter.  The dividend will be payable on SEPTEMBER 29th to shareholders of record as of SEPTEMBER 13th.

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