Entravision 1Q Television Revenue Up 5.4%

On Thursday, Entravision Communications Corp. reported first quarter television segment revenue of $34.9 million, an increase of 5.4% from $33.1 million in the same period in 2012.

Net revenue for the company as a whole increased to $49.1 million for the quarter from $46.5 million for the year-ago period, an increase of $2.6 million. Of the overall increase, $1.8 million came from the television segment and was primarily attributable to an increase in local advertising revenue and an increase in retransmission consent revenue. Additionally, $0.8 million of the overall increase came from the radio segment and was primarily attributable to an increase in national advertising revenue.

Operating expenses increased to $31.9 million from $31.0 million, an increase of $0.9 million. The increase was primarily attributable to an increase in expenses associated with the increase in net revenue and an increase in salary expense, partially offset by a decrease in bad debt expense.

Corporate expenses increased to $4.5 million from $3.9 million, an increase of $0.6 million. The increase was primarily attributable to an increase in non-cash stock-based compensation expense.

Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said: “During the first quarter, we achieved revenue growth driven by increases in both our television and radio segments. Core revenue (excluding retransmission consent revenue and political advertising revenue) from our television and radio segments outperformed their respective industry averages, and we improved our free cash flow over the first quarter of 2012.

“Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience.”