Spanish Broadcasting System Estimates Sales, OIBDA Increases For Fourth Quarter

Q4 Estimates

SPANISH BROADCASTING SYSTEM's preliminary financial results for fourth quarter 2018 show net revenue to land in an estimated range of between $38.9 million and $39.6 million, which would represent an increase of between 7% and 9% over the previous year's fourth quarter.  Adjusted OIBDA is estimated to be between $16.8 million and $17.5 million, an increase of between 21% and 26%.  Full year estimates are for net revenue between  $141.7 million and $142.4 million, up 5%-6%, and Adjusted OIBDA of between $49.5 million and $50.2 million, up 36%-38%.
 
Chairman/CEO RAUL ALARCON said, "Over the past several years we have embarked upon a concerted strategy of unlocking and monetizing the combined power of our leading radio, television, digital and experiential platforms targeting the U.S. Hispanic consumer.  Our preliminary fourth quarter and full-year 2018 results have, once again, validated that strategy by demonstrating the true value of our integrated assets and management's ability to grow the top line while simultaneously implementing strict cost controls at all of our operating units.

"During the fourth quarter and full-year 2018, we grew our revenue by 7% to 9% and 5% to 6%, respectively, while maintaining our margins at industry-leading levels. We currently expect our full-year 2018 Adjusted OIBDA to be approximately $50 Million, a 36% or greater increase over the prior year and one of the best operating results in our 35-year history. In addition, our audio rankings, as well as our TV, digital and mobile engagement metrics, also grew significantly.

"Looking to 2019, we will continue to invest in our future, with a focused approach to maximizing revenues, containing costs, and delivering solid, sustainable growth across all our business lines."

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