Entravision Profit Decreases, Revenue Increases in Quarter

Entravision Communications Corp., a Spanish-language media firm based in Santa Monica, said Thursday that quarterly profit fell from a year earlier, when it had a gain on the sale of its publishing division, but revenue rose on improved advertising.

Third-quarter net income fell to $3.7 million from $9 million in the same quarter of 2003. Including the accretion of preferred stock redemption, the company had a net loss per share of 5 cents, compared with a net profit per share of 5 cents a year earlier.

The year-earlier quarter included a gain of $9.4 million on the sale of the publishing unit.

Revenue rose 9% to $70 million from $64.4 million as television and radio advertising increased and ad rates climbed, the company said.

Entravision predicted that fourth-quarter revenue would rise 8% to 9% to $65.2 million to $65.9 million. The outlook for revenue and expenses eliminates radio stations sold in Fresno and Chicago in the first half of this year to show like comparisons, the company said.

Entravision sees fourth-quarter operating expenses rising 4% to $41.25 million to $41.4 million, and corporate expenses rising 4% to 5% to $4.2 million to $4.25 million.

Shares of Entravision rose 31 cents to $8.37 on the New York Stock Exchange.