Univision Reports Strong 2002 Results, Viewership
By Staff -- Broadcasting & Cable, 3/23/2003 7:00:00 PM
Univision Communications, the dominant Spanish-language broadcaster reported net income increased 58% in 2002, to $86.5 million. EBITDA for the year ended Dec. 31, was up 10% to $331.9 million. The company reported record revenues of $1.091 billion up 23% from $887.9 million, the company announced.
In a statement, Chairman and Chief Executive A. Jerrold Perenchio said Univision stations continued to increase audience, unlike English-language networks. He credited Univision's new broadcast network, TeleFutura, with helping boost Univision in this, the second year of an economic downturn.
For the fourth quarter, Univision reported net income of $36.4 million, up 234% from fourth quarter 2001, which was severely impacted by 9/11 and its aftermath. Revenue increased 22% to $284.2 million. Consolidated EBITDA increased 35% to $104.3 million.
Univision advised analysts that it expects first-quarter revenues and EBITDA to rise in the low-20% range and earnings per share to uptick 4 or 5 cents. Those figures, the company warned, could be negatively affected by the war in Iraq and by any advertising make-goods the networks may be required to give advertisers if programming is interrupted for an extended period.
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