Entravision Revenues Off In Q1
SANTA MONICA, CA -- May 6, 2009: Entravision Communications' radio segment brought in $13.4 million in revenues in the first quarter of this year, down 31 percent from $36.1 million in Q1 2008. On the television side, revenues were off by 22 percent, to $28.3 million from $36.1 million.
For Entravision overall, revenue fell by 25 percent in the quarter, to $41.2 million from $55.7 million. EBITDA was down by 60 percent, to $6.7 million from $16.7 million, while the net loss applicable to common stockholders was $14.5 million (17 cents per share), widening from $7.7 million (7 cents) in the same period a year ago.
Entravision Chairman/CEO Walter Ulloa said, "Our results in the quarter reflect the continuing recession and the challenging environment for businesses, such as ours, that are dependent upon advertising revenue. We are continuing to aggressively manage our costs to maximize our cash flows. Our television and radio operations continue to deliver solid ratings in the nation's most densely populated Hispanic markets. We believe we are well positioned to benefit when the economy recovers, given the strength of our brands and our ability to deliver consistently strong audience shares to our advertisers."
Entravision also announced that it repurchased 400,000 shares of its class A common stock in Q1 for about $500,000.
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