Grupo Radio Centro, S.A.B. de C.V. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012
April 23, 2012 at 10:28 pm EDT
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Grupo Radio Centro, S.A.B. de C.V. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. The company's broadcasting revenue for the first quarter of 2012 totaled MXN 241,712,000, a 28.0% increase compared to the MXN 188,766,000 reported for the first quarter of 2011. This increase was mainly attributable to higher advertising investment by the company's clients in Mexico, who purchased more airtime during the first quarter of 2012 compared to the same period of 2011. The company's operating income for the first quarter of 2012 totaled MXN 51,821,000, a significant increase compared to the MXN 8,721,000 reported for the first quarter of 2011, mainly due to the increase in broadcasting revenue. The company's profit before income taxes for the first quarter of 2012 totaled MXN 33,549,000, a significant increase compared to the loss before income taxes of MXN 11,059,000 reported in the first quarter of 2011. As a result of the foregoing, the company's profit applicable to majority interest in the first quarter of 2012 totaled MXN 29,296,000, a significant increase compared to net loss applicable to majority interest of MXN 17,298,000 recorded for the first quarter of 2011. Net income per Series A share was MXN 1.3648, compared to MXN 0.4345 for the first quarter of 2011. Net income per ADS was MXN 12.2832, compared to MXN 3.9105 for the first quarter of 2011.
Grupo Radio Centro, S.A.B. de C.V. (Grupo Radio Centro) is a Mexico-based broadcasting company. The main activities of Grupo Radio Centro are the production and broadcasting of musical and entertainment programs, programs of information and analysis, news and special events. Grupo Radio Centro operates and owns fifteen radio stations. Of these fifteen radio stations, twelve are located in Mexico City, one AM station located in Guadalajara, one in Monterrey and one FM station in Los Angeles, California. The Company also operates a chain of radio, Impelling Radio Organization (OIR), which provides programming and acts as representative domestic sales of more than a hundred radio stations affiliated to Grupo Radio Centro along the Mexican Republic. The Company sells airtime commercial radio stations.