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SBS Hopes to Capitalize on Growing Hispanic Market - Radio World

SBS Hopes to Capitalize on Growing Hispanic Market

SBS Hopes to Capitalize on Growing Hispanic Market
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Spanish Broadcasting System, Inc. Chairman and CEO Raúl Alarcón, Jr., predicts an improving advertising climate going forward. He said his company believes SBS is "serving the proper niche markets that permit us to capitalize on the continued growth of the Hispanic market."
SBS reported net revenue for the second quarter was $38 million compared to $39.4 million for the same period of the prior year. For the six months ended June 30, 2003, SBS reported net revenue of $66.8 million compared to $68.3 million for the same period of the prior year.
Reported station operating income was $15.7 million for Q2 2003 and for the same quarter of the prior year, respectively.
Corporate expenses for the quarter were $4.7 million compared to $3.1 million for the same period of the prior year, an increase of $1.6 million due to a rise in legal and professional fees, as well as insurance premiums, including directors and officers insurance. For the six months ended June 30, 2003, SBS reported corporate expenses of $9.2 million compared to $5.9 million for the same period of the prior year, an increase of $3.3 million.
Alarcón, Jr., stated, "We are especially pleased with our performance in the Los Angeles market with top ratings and double-digit revenue growth posted by our stations KLAX(FM) and KXOL(FM)."

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