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Thursday, January 19, 2012

Spanish Broadcasting System releases preliminary results for Q4 2011

Spanish Broadcasting System SBS reports that radio/TV net revenues were ahead at least 7.5%, and perhaps as much as 9%. The company is still calculating the final fourth quarter and full-year results, but CEO Raul Alarcon wants to get a message out. In Wednesday night's release, the company says it expects "a significant reduction in its television segment operating loss", for the Miami-based Mega TV division. Alarcon cites "a singular focus on achieving profitability in our television segment" as one reason for the company's improvement. Other contributing factors are "a healthier advertising environment [and] the strength of our broadcasting properties." SBS forecasts fourth-quarter operating income to grow at least 10%.

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