Entravision Reports Increased Radio Revenue

Entravision Communications Corporation Thursday reported financial results for the three-month period ending June 30, 2015.

Commenting on the Company's earnings results, Walter F. Ulloa, Chairman and Chief Executive Officer, said, "During the second quarter, we faced challenging comparisons to last year's second quarter, particularly in our television segment, when we benefited from World Cup and political advertising revenue.  Nevertheless, we continued to increase our radio segment revenue and build our digital footprint through the acquisition of Pulpo Media in June 2014, which provides us with an integrated platform to allow advertisers and marketers to connect with Latino audiences.  Looking ahead, we remain well positioned to build on our success in attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."

Walter Ulloa

"Net revenue decreased to $59.9 million for the three-month period ended June 30, 2015 from $61.8 million for the three-month period ended June 30, 2014, a decrease of $1.9 million. Of the overall decrease, approximately $6.7 million was attributed to our television segment and was primarily attributable to the absence of World Cup and significant political advertising revenue in 2015 compared to 2014, and a decrease in national advertising revenue, partially offset by increases in local advertising revenue and retransmission consent revenue.

"The overall decrease was partially offset by an increase of $0.9 million that was attributed to our radio segment and was primarily attributable to increases in local and national advertising revenue, partially offset by the absence of World Cup revenue in 2015 compared to 2014. Additionally, the overall decrease was partially offset by an increase of $3.9 million that was attributed to our digital segment, resulting from our acquisition of Pulpo in June 2014 and which did not contribute to revenue in the comparable period in 2014."

Operating expenses increased to $37.5 million for the three-month period ended June 30, 2015 from $35.0 million for the three-month period ended June 30, 2014, an increase of $2.5 million. The increase was primarily attributable to increased operating expenses of Pulpo, which we acquired in June 2014, and increases in rent expense, salary expense and employee benefits costs, partially offset by a decrease in expenses associated with the decrease in advertising revenue.