Entravision saw a $7.2 million increase in profits – from a loss of $1.4 million a year ago. The company, which is publicly traded, attributed its quarterly profit to political ad revenues.
Entravision released its financial results during its third quarter 2012 earnings call on Thursday, November 1 at 5 pm ET, after market hours.
Revenue rose 17% to $58.5 million from $50.1 million in 2011. Of the overall increase, $7.3 million came from the company’s television segment, and $1.1 million from its radio division.
Oddly enough, Entravision also announced a “new” management structure that it said would “strengthen the company’s ability to capitalize on its media platforms and improve operating efficiencies.” But that “new” management structure, which included promotions of some of its executives, was instituted in July.
Jeffery A. Liberman, previously President of Entravision’s radio division, was named COO effective July 26. Also promoted in July, but officially announced in November: Mario M. Carrera, from SVP of Spanish-language television to Chief Revenue Officer and Esteban Lopez Blanco, from Executive Director of Interactive to Chief Strategy Officer, Corporate Development and Innovation.
Walter Ulloa continues to lead the company as chairman and CEO.