Entravision Communications Corporation (EVC) has reported 15.33 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $2.62 million, or $0.03 a share in the quarter, compared with $2.27 million, or $0.02 a share for the same period last year.
Revenue during the quarter went down marginally by 1.04 percent to $57.51 million from $58.11 million in the previous year period. Gross margin for the quarter expanded 12 basis points over the previous year period to 96.95 percent. Total expenses were 86 percent of quarterly revenues, down from 86.85 percent for the same period last year. This has led to an improvement of 85 basis points in operating margin to 14 percent.
Operating income for the quarter was $8.05 million, compared with $7.64 million in the previous year period.
Adjusted EBITDA for the quarter was almost stable at $12.57 million, when compared with the prior year period. At the same time, adjusted EBITDA margin improved 16 basis points in the quarter to 21.86 percent from 21.70 percent in the last year period.
Commenting on the Company’s earnings results, Walter F. Ulloa, chairman and chief executive officer, said, "Our first quarter results were impacted by the absence of political advertising revenue in the first quarter compared to the prior year. We grew our television advertising revenue, but this increase was offset by decreases in our radio and digital segments. We also improved our free cash flow and net income over last year’s fourth quarter. Additionally, we continued to build our digital footprint through our announced acquisition of Headway, a leading provider of mobile, programmatic, data and performance digital marketing solutions primarily in the United States, Mexico and other parts of Latin America. Looking ahead, we remain well positioned to build on our success in further attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."
Operating cash flow improvesEntravision Communications Corporation has generated cash of $12.92 million from operating activities during the quarter, up 22.76 percent or $2.39 million, when compared with the last year period. The company has spent $2.01 million cash to meet investing activities during the quarter as against cash outgo of $32.14 million in the last year period.
The company has spent $3.45 million cash to carry out financing activities during the quarter as against cash outgo of $3.32 million in the last year period.
Cash and cash equivalents stood at $68.98 million as on Mar. 31, 2017, up 200.04 percent or $45.99 million from $22.99 million on Mar. 31, 2016.
Working capital increases
Entravision Communications Corporation has recorded an increase in the working capital over the last year. It stood at $100.51 million as at Mar. 31, 2017, up 12.08 percent or $10.83 million from $89.68 million on Mar. 31, 2016. Current ratio was at 4.51 as on Mar. 31, 2017, up from 3.99 on Mar. 31, 2016.
Days sales outstanding went down to 95 days for the quarter compared with 100 days for the same period last year.
Debt comes downEntravision Communications Corporation has recorded a decline in total debt over the last one year. It stood at $289.67 million as on Mar. 31, 2017, down 7.33 percent or $22.90 million from $312.57 million on Mar. 31, 2016. Total debt was 56.33 percent of total assets as on Mar. 31, 2017, compared with 59.89 percent on Mar. 31, 2016. Debt to equity ratio was at 1.54 as on Mar. 31, 2017, down from 1.87 as on Mar. 31, 2016. Interest coverage ratio improved to 2.21 for the quarter from 1.98 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
