Entravision’s net revenue for the quarter increased to $46.5 million from $44.0 million in Q1 2011–an increase of $2.5 million. The increase came from the television segment and was credited to an increase in local advertising and an increase in retransmission consent revenue.
Operating expenses increased to $31.0 million for the quarter, from $30.1 million in Q1 2011–an increase of $0.9 million. The increase was because of an increase in expenses associated with the increase in net revenue and an increase in salary expense.
Corporate expenses increased to $3.9 million from $3.7 million in Q1 201–an increase of $0.2 million. The increase was attributable to the increase in interactive media-related expenses and salary expense.
Said Walter Ulloa, Chairman and CEO: “During the first quarter, we achieved revenue growth primarily driven by an increase in core television advertising and an increase in retransmission consent revenue, despite continuing challenges in the advertising environment, as our advertising customers continue to make difficult choices in the current uncertain economic environment. Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience.”