Entravision Q2 Revenue Down
By Jon Hemingway -- Broadcasting & Cable, 8/3/2007 5:33:00 AM
Spanish language broadcaster Entravision Communications’ financial results for the second quarter lagged Q2 2006, which was boosted by the World Cup and political advertising.
Entravision revenue in the second quarter was down 4% to $76 million from $79.3 million in the same period a year ago. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) were down 13% to $27 million versus $31 million in Q2 2006.
The company’s net income in Q2 was $8.6 million, $0.08 per share. In Q2 2006, the company recorded a net loss of $168 million due to an impairment charge.
Free cash flow rose 2% in the quarter to $15.3 million.
The company expects third quarter revenues to be flat to Q3 2006 and expenses to rise in the low single digits.
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