On Tuesday, Spanish Broadcasting System reported what it calls “select preliminary estimated financial results for the 4th quarter of 2018 and the full year.” The company estimates net revenue to come in between approximately $38.9 million and $39.6 million, an increase of between 7% and 9% over 2017. For the year, the company estimates net revenues between approximately $141.7 million and $142.4 million, an increase of between 5% and 6% over 2017.
CEO Raul Alarcon said, “Over the past several years we have embarked upon a concerted strategy of unlocking and monetizing the combined power of our leading radio, television, digital, and experiential platforms targeting the U.S. Hispanic consumer. Our preliminary fourth-quarter and full-year 2018 results have, once again, validated that strategy by demonstrating the true value of our integrated assets and management’s ability to grow the top line while simultaneously implementing strict cost controls at all of our operating units. Looking to 2019, we will continue to invest in our future, with a focused approach to maximizing revenues, containing costs, and delivering solid, sustainable growth across all our business lines.”