Its full-year net revenue hits $292 million, helped by World Cup and political advertising at the television stations.
Entravision Communications Corp. reported financial results for the three- and 12-month periods ended Dec. 31, 2006.
The company’s net revenue increased to $74.2 million for the quarter from $73.2 million from the same period in 2005, an increase of $1 million.
Excluding the 2006 and 2005 net revenue contributed by the company’s radio stations in the San Francisco/San Jose, Tucson and Dallas markets that it sold in 2006, net revenue would have increased by $4.3 million during the quarter. Of the overall increase, $1.4 million came from the television segment and, the company said, “was primarily attributable to an increase in local advertising sales at our Univision stations.”
For the full year, Entravision’s net revenue increased to $291.8 million, up from 2005’s $281 million, an increase of $10.8 million. Excluding the 2006 and 2005 net revenue contributed by the radio stations it sold last year, net revenue would have increased by $20.5 million in 2006. Of the overall increase, $12.3 million came from the television segment. The increase from this segment was primarily attributable to an increase in both local and national advertising sales, primarily due to an increase in advertising rates, and also to World Cup and political advertising.
Commenting on the company’s earnings results, Walter Ulloa, chairman and CEO, said in a statement: “Our record results for the fourth quarter and full-year demonstrate the strength of our platform, our ability to capitalize on our audience shares and the dedication of all our employees. Once again we outpaced the general market, with strength across all three of our operating divisions as we benefited from the growth of the U.S. Hispanic consumer and the desire of local and national advertisers to target this expanding market. As we enter 2007 we are focused on our core strengths and the execution of our growth strategy. With a unique group of assets positioned in the most dynamic Hispanic growth markets in the U.S. and a sound balance sheet we remain well positioned to generate long-term value for our shareholders.”
To read the company’s press release, click here.