SBS Q4 Net Revenue Down 12% as Loss Narrows

RADIO ONLINE | , , | :am CT

Spanish Broadcasting System reports fourth quarter net revenue fell 12% to $36.8 million from $40.9 million mainly due to the company's radio segment which declined 9% to $31.6 million from $34.9 million. Operating income totaled $10.8 million a 159% increase from $4.2 million. The Spanish-language broadcaster posted a loss of $10.3 million (14 cents per share) as compared with a loss of $30.7 million (42 cents) in 2008.

Chairman/CEO Raul Alarcon commented, "Our fourth quarter results reflect the positive impact of our disciplined approach to managing our costs during the global recession, as we generated significantly improved cash flows from our operations for the fourth consecutive quarter. As we seek to capitalize on the early stages of the rebound in the advertising market, we believe the operating efficiencies in our new broadcast model will become increasingly evident, even as we prudently invest in our content and sales resources."

He continued, "Looking ahead, our radio, TV and online brands continue to grow, as we cross-promote our multi-platform media assets with both our advertisers and consumers. As the nation's Hispanic population continues its rapid expansion, we believe we are well positioned to benefit given the strength of our diverse media platform and our leadership position in serving this increasingly influential and powerful audience."