Entravision Q3 Revs Down 17%, Loss Swings to Profit

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Spanish-language broadcaster Entravision Communications reported a 17% decrease in net revenues for the third quarter to $50.8 million from $61 million in 2008. The company's radio segment fell 20% to $18.7 million from $23.5 million. Operating expenses declined to $30.6 million from $37 million, mainly due to a decrease in salary expenses of personnel and salary reductions.

Entravision posted net earnings of $673,000 (1 cent per share) as compared to a loss of $354.4 million ($3.98 per share).

Chairman/CEO Walter F. Ulloa commented, "Our third quarter financial results continue to be impacted by the recession and the challenging advertising environment. We remain focused on managing our costs and maximizing our cash flows. Our television and radio operations continue to deliver solid ratings in the nation's most densely-populated Hispanic markets. We believe that we are well positioned to benefit when the economy recovers."