Spanish Broadcasting earned 20 cents per share in the second quarter. It had posted a loss of 4 cents per share in the second quarter of 2001. The company also reported a 12.6 percent rise in net revenue, with same-station net revenue increasing 18.5 percent.
SBS attributed its improved operating results in large part to revenue gains at KXOL-FM in Los Angeles, the company’s newest full-power station, and a cost-savings plan implemented last year. A company representative also cited better-than-expected revenue and ratings gains at its flagship stations in Miami, Chicago, New York, and Los Angeles.
For the current quarter, SBS is projecting net revenue growth in the range of 2–3 percent over last year’s results for the same period. SBS is currently suing Hispanic Broadcasting Corp. and Clear Channel Communications for alleged predatory tactics (see “No Slam Dunk,” July/August).
Most Popular Stories
- Stop-Start Engines Save Gas, Reduce Emissions
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges
- Ricky Martin Joins 'The Voice ... Mexico'
- Ukraine Says Russians Firing Across the Border
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Ford Q2 Net Profit up 6 Percent
- U.S. Weighs Refugee Status for Immigrant Kids