Entravision Q4 revenue up 8%
Entravision Communications' had a fantastic Q4, with net revenue increasing to 73.2 million from 68 million in Q4 '04, an increase of 5.2 million, or 8%. The overall increase came mainly from the company's television side, which was up 3 million. The increase was due to increased local and national ad sales, primarily due to an increase in rates. Additionally, 1.4 million of the overall increase came from the radio segment, primarily attributable to an increase in local ad rates, especially with the successful and critically acclaimed "Indie 103.1" simulcast in LA: KDLD-FM/KDLE-FM. The remaining 0.8 million of the increase came from EVC's outdoor segment-in upped ad rates and higher occupancy, as well an expansion of the outdoor division in Sacramento. Operating expenses increased to 44.1 million in Q4, from 41.6 million in Q4 '04, an increase of 2.5 million, or 6%. Of the overall increase, 1.1 million came from the TV side.
Broadcast cash flow increased to 29 million in Q4, from 26.4 million in Q4 2004, an increase of 2.6 million, or 10%. FY 2005, net revenue increased to 281.0 million in the quarter, from 259.1 million in '04, an increase of 21.9 million, or 8%. Of the overall increase, 10.3 million came from the TV side. Operating expenses increased to 171.8 million from 162.3 million in 2004, an increase of 9.5 million, or 6%. Of the overall increase, 4.0 million came from television. The increase was primarily attributable to a one-time recovery of expenses of 1 million in the prior year in accordance with the terms of an amendment to its TeleFutura marketing and sales agreement with Univision and an expansion of newscast ops in the San Diego, Santa Barbara and Boston. 3.3 million of the overall increase came from the radio side, primarily attributable to expenses associated with KBMB-FM acquired in the second half of 2004 and KDLD-FM/KDLE-FM. The remaining 2.2 million of the increase came from outdoor. Broadcast cash flow increased to 109.2 million in 2005, from 96.7 million in 2004, an increase of 12.5 million, or 13%.
For the radio group, Ulloa said revenues were up 10% vs. an in industry that was essentially flat, according to the RAB. Radio cash flow increased 15% for the year. For Q4, radio revenues increased 6%, exceeding guidance by 4 points. Radio cash flow in Q4 was up 7%. Local was up 7%; national was up 2% in Q4. For the year, local was up 12% and national was up 4%. That compares to the industry comps of 1% and -2%, respectively.
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