Continuing on its Q3 growth, Spanish Broadcasting System says revenue growth in Q4 was even stronger. The company issued preliminary numbers showing revenues up 7.5-9.0%, with the final tally continuing.
“Based on preliminary information and subject to the year-end accounting close and audit, the Company expects fourth quarter 2011 consolidated net revenue to be between $37.5 million and $38.0 million, resulting in expected growth of 7.5% to 9.0% over the comparable period in 2010. The Company expects a significant reduction in its television segment station operating loss, a non-GAAP measure, during the fourth quarter of 2011 compared to the fourth quarter of 2010. The Company also expects operating income before depreciation and amortization, (gain) loss on the disposal of assets, net and impairment charges and restructuring costs, a non-GAAP measure, to be between $10.5 million and $11.5 million, resulting in expected growth of 10% to 21% when compared to the fourth quarter of 2010. The Company’s cash balance is expected to be above $70 million as of December 31, 2011,” SBS said in its early announcement on Q3.
“The significant improvement in our results for the fourth quarter reflects the continued benefits of a healthier advertising environment, the strength of our broadcasting properties and affiliated special events, and a singular focus on achieving profitability in our television segment,” said CEO Raul Alarcón Jr. “We are further monetizing and expanding our audience reach, while effectively managing our costs, which is leading to increased cash flow from our business. Moving forward, we remain well positioned in the nation’s largest Hispanic markets and are focused on generating improved financial performance and long-term value.”
SBS told Wall Street that its consolidated financial statements as of and for the year ended December 31, 2011 are not yet available.
