Entravision forecasts 2nd-quarter revenue of $53.3 million to $53.5 million, 10 percent growthBy AP
Monday, July 19, 2010
Entravision sees 2Q revenue of $53.3M to $53.5M
SANTA MONICA, Calif. — Spanish-language media company Entravision Communications Corp., said Monday it expects to report revenue in the range of $53.3 million and $53.5 million for the second quarter.
That would be up as much as 10 percent from the $48.7 million in revenue it reported in the year-ago period.
Separately, the company said it plans to offer $385 million of senior secured first lien notes due 2017 and to enter into a new revolving credit facility of up to $50 million.
The notes will be sold in a private offering that is expected to close around July 27, the company said.
Shares fell 17 cents, or 7.2 percent, to close at $2.18. The stock climbed from a low of 41 cents a year ago to a 52-week high of $3.60 in late 2009 but has fallen off from the $3-range in recent weeks.
Tags: California, North America, Santa Monica, United States