This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission.
(Financial Table Follows)
Entravision Communications Corporation Consolidated Statements of Operations (In thousands, except share and per share data) (Unaudited) Three-Month Period Nine-Month Period Ended September 30, Ended September 30, ------------------- ------------------- 2012 2011 2012 2011 ---- ---- ---- ---- Net revenue $58,486 $50,115 $159,501 $144,424 ------- ------- -------- -------- Expenses: Direct operating expenses (including related parties of $2,788, $2,366, $7,493, and $5,885) (including non-cash stock-based compensation of $45, $51, $101 and $155) 23,293 22,582 67,803 65,890 Selling, general and administrative expenses (including non- cash stock-based compensation of $222, $157, $546, and $472) 9,593 8,621 28,600 27,150 Corporate expenses (including non- cash stock-based compensation of $498, $287, $1,116, and $732) 4,465 3,885 12,527 11,402 Depreciation and amortization (includes direct operating of $3,061, $3,333, $9,278, and $10,011; selling, general and administrative of $718, $797, $2,155, and $2,416; and corporate of $234, $885, $1,003, and $1,745) (including related parties of $580, $1,205, $2,053, and $2,725) 4,013 5,015 12,436 14,172 ----- ----- ------ ------ 41,364 40,103 121,366 118,614 ------ ------ ------- ------- Operating income (loss) 17,122 10,012 38,135 25,810 Interest expense (including related parties of $0, $0, $0, and $30) (8,671) (9,444) (26,730) (28,346) Interest income 10 - 23 2 Other income (loss) - - - 687 Gain (loss) on debt extinguishment - - (1,230) - --- --- ------ --- Income (loss) before income taxes 8,461 568 10,198 (1,847) Income tax (expense) benefit (1,228) (1,952) (4,294) (4,321) ------ ------ ------ ------ Net income (loss) applicable to common stockholders $7,233 $(1,384) $5,904 $(6,168) ====== ======= ====== ======= Basic and diluted earnings per share: Net income (loss) per share applicable to common stockholders, basic and diluted $0.08 $(0.02) $0.07 $(0.07) ================= Weighted average common shares outstanding, basic 85,940,225 85,055,659 85,861,671 85,049,518 ========== ========== ========== ========== Weighted average common shares outstanding, diluted 86,386,655 85,055,659 86,220,868 85,049,518 ========== ========== ========== ==========
