Univision nets 70% bump

Spanish broadcaster increases 4th quarter revenue

NEW YORK — Spanish-lingo broadcaster Univision Communications Inc. increased net income 70%, to $32.8 million in the fourth quarter, it said Friday, on 29% higher revenues of $138 million.

The quarterly result brought the year’s profit to $83.2 million, up 231% over 1996. Revenues for the year rose 24% to $459.7 million.

“Univision’s fourth quarter and full-year results demonstrate our continued progress in attracting advertisers to the Hispanic market,” Univision chief financial officer George Blank said.

The dramatic improvement over 1996 also is a reflection of the financial restructuring the company underwent in late 1996, although the 1996 profit figures are restated as though the restructuring occurred at the start of the year.

Univision stock rose $1 Friday to close at $37.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety