Grupo Radio Centro, S.A.B. de C.V. announced audited consolidated earnings results for the fourth quarter and for the year ended December 31, 2011. The company's broadcasting revenue for the fourth quarter of 2011 totaled MXN 314,186,000, a 2.4% increase compared to the MXN 306,908,000 reported for the fourth quarter of 2010. This increase was mainly attributable to higher advertising expenditures by the company's clients in Mexico, who purchased more airtime during the fourth quarter of 2011 compared to the same period of 2010. The company's operating income for the fourth quarter of 2011 totaled MXN 96,392,000, an 8.8% decrease compared to the MXN 105,695,000 reported for the fourth quarter of 2010. This decrease was mainly due to the increase in broadcasting expenses. The company's income before income taxes for the fourth quarter of 2011 totaled MXN 77,712,000, a 1.7% increase compared to the MXN 76,409,000 reported for the fourth quarter of 2010. As a result of the foregoing, the company's net income in the fourth quarter of 2011 totaled MXN 145,306,000, a significant increase compared to the MXN 3,740,000 of net income recorded for the fourth quarter of 2010. The company's broadcasting income (that is broadcasting revenue minus broadcasting expenses, excluding depreciation, amortization and corporate, general and administrative expenses) for the fourth quarter of 2011 totaled MXN 108,408,000, a 6.6% decrease compared to the MXN 116,013,000 reported for the fourth quarter of 2010. This decrease was mainly attributable to the increase in broadcasting expenses. The company's broadcasting revenue for the year ended December 31, 2011 totaled MXN 988,598,000, representing an 8.9% increase compared to the MXN 907,925,000 reported for the same period of 2010. This increase was mainly attributable to higher advertising expenditures by the company's clients, who purchased more airtime during the period ended December 31, 2011 compared to the same period of 2010. As a result of the foregoing, the company recorded operating income of MXN 229,398,000 for the year ended December 31, 2011, a 29.1% increase compared to the MXN 177,691,000 reported for the same period of 2010. The company's income before income taxes for the year ended December 31, 2011 totaled MXN 151,257,000, a 61.1% increase compared to MXN 93,914,000 recorded for the same period of 2010. This increase was mainly due to the aforementioned increase in broadcasting income. As a result of the foregoing, the company recorded net income of MXN 175,507,000 for the year ended December 31, 2011, a significant increase when compared to the net income of MXN 51,251,000 reported for the same period of 2010. The company's broadcasting income (that is broadcasting revenue minus broadcasting expenses, excluding depreciation, amortization and corporate, general and administrative expenses) for the year ended December 31, 2011 totaled MXN 269,304,000, a 24.4% increase compared to the MXN 216,491,000 reported for the same period of 2010. This increase was mainly attributable to the aforementioned increase in broadcasting revenue. Net income per Series A share was MXN 0.3149 and net income per ADS was MXN 2.8341.