Filed at 5:22 p.m. EST on May 6, 2009
Entravision announced television revenue of $28.2 million in the first quarter, down 22% from the same quarter last year. The Spanish-language media company's overall net revenue for the quarter was $41.8 million, down 25% from the year before.
"Our results in the quarter reflect the continuing recession and the challenging environment for businesses, such as ours, that are dependent upon advertising revenue," said chairman/CEO Walter F. Ulloa. "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."
Revenue down in the mid-20s is about the norm for broadcasters these days.
The company's radio business fared worse, its $13.4 million in first quarter revenue a 31% slip from the same quarter last year.
Santa Monica-based Entravision cut 10% out of its TV expenses in the quarter, and the same percent in its radio division.