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Entravision Communications Q1 Net Revenues Jump 132%


Entravision Communications
Entravision Communications

Entravision Communications reported first quarter net revenue climbed 132% to $148.8 million in 2020. Operating expenses were flat at $40 million. Consolidated Adjusted EBITDA was up 47% to $14.1 million from $9.6 million, while free cash flow jumped 149% to $13 million from $5.2 million. The company posted a net income $5.4 million (6 cents per diluted share) as compared to a loss of $35.6 million (-42 cents) in the year-ago period.

"We are very pleased with our results for the first quarter 2021, with core television and audio performing well, along with our digital segment that continues to see solid growth," said Chiarman/CEO Walter F. Ulloa. "We are particularly pleased with the progress of our recent acquisition of Cisneros Interactive through which we significantly expanded Entravision's digital offerings to customers, including representing some of the strongest global audience and ad tech platforms. As we grew our top line, we also remained cost conscious and continue to operate a much more efficient business than even prior to the onset of the COVID-19 pandemic."

The company also announced that its board of directors has approved a quarterly cash dividend to shareholders of $0.025 per share on its Class A, Class B and Class U common stock, in an aggregate amount of approximately $2.1 million. The quarterly dividend will be payable on June 30, 2021 to shareholders of record as of the close of business on June 16, 2021, and the common stock will trade ex-dividend on June 15.

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