Spanish Broadcasting System Estimates Sales, OIBDA Increases For Second Quarter

Q2 Estimates

SPANISH BROADCASTING SYSTEM, INC. released its preliminary estimated financial results for the second quarter, and estimates that consolidated net revenue will be between $34.5 million and $34.8 million, which would be an increase of between 1% and 2% over last year's second quarter.  Adjusted OIBDA, excluding non-cash stock-based compensation, is being projected at between $10.8 million and $11.6 million, an increase of between 34% and 44% over last year.

In a statement accompanying the figures, Chairman/CEO RAÚL ALARCON said, "As previously forecasted, the Company has continued its positive operational momentum throughout the second quarter with strong OIBDA growth and operating margins that continue to be among the highest in the industry.  In addition, the announced $14 million sale of our surplus real estate in NEW YORK CITY has successfully closed, allowing for our move to newer and more suitable facilities in midtown MANHATTAN.  A correlated and corresponding repayment of the Company's 12.5% senior secured notes from the net proceeds of the real estate sale has been undertaken, as previously envisioned.

"We maintain our positive view as to the continuing momentum in 2018 and will be filing our finalized second quarter results within the next week."

« see more Net News