SBS Revenue Growth 'Notably Greater' Than Radio Industry's

SBS Revenue Growth 'Notably Greater' Than Radio Industry's
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Net revenues from continuing operations were up 16.7% at Spanish Broadcast System in the fourth quarter compared to the same period a year earlier. For the entire year, it was up 15.2%, to $133.9 million. SBS predicts growth of net revenue in the 7 to 8% range in the first quarter of 2003.
SBS said the fourth-quarter performance exceeded the high end of its previously announced guidance and is notably greater than that of the radio industry in general.
A previous barter deal with AOL Time Warner has concluded, and is not part of those numbers, "due to its non-recurring and significant non-cash impact." SBS enjoyed revenue growth in its core markets of New York, Los Angeles, Miami and Chicago.