LBI Media Radio Revenues Up In Q1

BURBANK, CA -- May 14, 2008: LBI Media yesterday reported that its net revenues were up 5 percent in the first quarter of 2008, to $26.4 million from $25.1 million in Q1 2007, while radio revenues grew by 14 percent, to $13.7 million from $12 million. The radio increase was driven, the company said, by strong growth at its Dallas group and from Regional Mexican KQRB/Riverside, which LBI acquired in September 2007.

LBI saw radio revenue increases in both local and national in Q1, with particularly strong national sales gains in Los Angeles and Dallas. On the TV side, revenues fell by 3 percent, to $12.7 million from $13.1 million.

The company overall reported a net loss of $5.9 million in the first quarter, compared to $46.6 million in the same period a year ago. Adjusted EBITDA was $9.2 million, down 14 percent from $10.6 million, while operating expenses rose 17 percent, to $19.7 million from $16.8 million.

LBI Media EVP/Secretary Lenard Liberman said, "Despite the impact of a softening economy both locally and nationally, LBI Media continues to grow its top-line revenue through aggressive sales management, ratings performance, and targeted acquisitions."