Grupo Radio Centro, S.A.B. de C.V. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
July 17, 2012 at 07:53 pm EDT
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Grupo Radio Centro, S.A.B. de C.V. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported broadcasting revenue of MXN 235,834,000 compared to MXN 230,431,000 a year ago. This slight increase was mainly attributable to higher advertising expenditures by the company's clients in Mexico, who purchased more airtime during the second quarter of 2012 compared to the same period of 2011. Operating income was MXN 48,899,000 compared to MXN 53,533,000 a year ago. Profit before income taxes was MXN 16,293,000 compared to MXN 31,726,000 a year ago. Profit applicable to majority interest was MXN 23,064,000 or MXN 1.4058 per series A share compared to MXN 16,386,000 a year ago. Net income per ADS was MXN 12.6522.
For the six months period, the company reported broadcasting revenue of MXN 477,546,000 compared to MXN 419,197,000 a year ago. Operating income was MXN 100,720,000 compared to MXN 62,254,000 a year ago. Profit before income taxes was MXN 49,842,000 compared to MXN 20,667,000 a year ago. This increase was mainly due to the aforementioned increase in broadcasting revenue. Profit applicable to majority interest was MXN 52,360,000 or MXN 0.5160 per series A share compared to loss applicable to majority interest of MXN 912,000 a year ago. Net income per ADS was MXN 4.6440.
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.