Entravision Communications Corporation (EVC) has reported a 20.60 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $7 million, or $0.08 a share in the quarter, compared with $5.81 million, or $0.06 a share for the same period last year.
Revenue during the quarter grew 7.43 percent to $70.29 million from $65.43 million in the previous year period. Gross margin for the quarter contracted 34 basis points over the previous year period to 95.67 percent. Total expenses were 79.21 percent of quarterly revenues, down from 81.32 percent for the same period last year. This has led to an improvement of 211 basis points in operating margin to 20.79 percent.
Operating income for the quarter was $14.61 million, compared with $12.22 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $20.62 million compared with $18.78 million in the prior year period. At the same time, adjusted EBITDA margin improved 63 basis points in the quarter to 29.34 percent from 28.70 percent in the last year period.
Commenting on the Company’s earnings results, Walter F. Ulloa, chairman and chief executive officer, said, “During the fourth quarter, we achieved revenue growth driven by increases in our television, radio and digital media segments. We also improved our free cash flow and net income over the fourth quarter of 2015. Additionally, we continued to grow our digital segment revenue and build our digital footprint through Pulpo Media, which provides us with an integrated platform to connect advertisers and marketers with Latino audiences. 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 declines
Entravision Communications Corporation has generated cash of $57.30 million from operating activities during the year, down 8.01 percent or $4.99 million, when compared with the last year.
The company has spent $9.55 million cash to meet investing activities during the year as against cash outgo of $13.70 million in the last year.
The company has spent $34.15 million cash to carry out financing activities during the year as against cash outgo of $31.92 million in the last year period.
Cash and cash equivalents stood at $61.52 million as on Dec. 31, 2016, up 28.37 percent or $13.60 million from $47.92 million on Dec. 31, 2015.
Working capital increases
Entravision Communications Corporation has recorded an increase in the working capital over the last year. It stood at $96.90 million as at Dec. 31, 2016, up 12.04 percent or $10.41 million from $86.49 million on Dec. 31, 2015. Current ratio was at 3.80 as on Dec. 31, 2016, up from 3.58 on Dec. 31, 2015.
Debt comes down
Entravision Communications Corporation has recorded a decline in total debt over the last one year. It stood at $290.45 million as on Dec. 31, 2016, down 7.31 percent or $22.89 million from $313.34 million on Dec. 31, 2015. Total debt was 56.08 percent of total assets as on Dec. 31, 2016, compared with 59.32 percent on Dec. 31, 2015. Debt to equity ratio was at 1.58 as on Dec. 31, 2016, down from 1.87 as on Dec. 31, 2015. Interest coverage ratio improved to 3.79 for the quarter from 3.73 for the same period last year.
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