Entravision’s Q1 net revenue decreased to $41.7 million for the three-month period ended March 31, 2009 from $55.7 million for the three-month period ended March 31, 2008, a decrease of $14.0 million. Of the overall decrease, $7.9 million came from the television segment and was primarily attributable to a decrease in local and national ad rates, which in turn was primarily due to the continuing weak economy.
$6.1 million of the decrease came from the radio segment and was primarily attributable to a decrease in local and national ad sales and ad rates, which in turn was primarily due to the continuing weak economy.
Operating expenses decreased to $31.8 million for the three-month period ended March 31, 2009 from $35.4 million for the three-month period ended March 31, 2008, a decrease of $3.6 million.
Said Chairman/CEO Walter Ulloa: “Our results in the quarter reflect the continuing recession and the challenging environment for businesses, such as ours, that are dependent upon advertising revenue. 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.”
