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.
SBS Revenue Growth ‘Notably Greater’ Than Radio Industry’s
SBS Revenue Growth 'Notably Greater' Than Radio Industry's
