Exhibit 99.1

 

ENTRAVISION COMMUNICATIONS CORPORATION REPORTS

SECOND QUARTER 2018 RESULTS

 

- Announces Quarterly Cash Dividend of $0.05 Per Share –

 

SANTA MONICA, CALIFORNIA, August 2, 2018 – Entravision Communications Corporation (NYSE: EVC) today reported financial results for the three- and six-month period ended June 30, 2018.

Historical results, which are attached, are in thousands of U.S. dollars (except share and per share data). This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each of these non-GAAP financial measures, and a table reconciling each of these non-GAAP financial measures to its most directly comparable GAAP financial measure is included beginning on page 10. Unaudited financial highlights are as follows:

 

 

Three-Month Period

 

 

Six-Month Period

 

 

Ended June 30,

 

 

Ended June 30,

 

 

2018

 

 

2017

 

 

% Change

 

 

2018

 

 

2017

 

 

% Change

 

Net revenue

$

74,329

 

 

$

70,509

 

 

 

5

%

 

$

141,167

 

 

$

128,019

 

 

 

10

%

Cost of revenue - digital (1)

 

11,384

 

 

 

8,762

 

 

 

30

%

 

 

22,009

 

 

 

10,514

 

 

 

109

%

Operating expenses (2)

 

43,790

 

 

 

41,945

 

 

 

4

%

 

 

88,117

 

 

 

80,237

 

 

 

10

%

Corporate expenses (3)

 

6,266

 

 

 

5,619

 

 

 

12

%

 

 

12,241

 

 

 

11,486

 

 

 

7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated adjusted EBITDA (4)

 

14,866

 

 

 

14,924

 

 

 

(0

)%

 

 

21,803

 

 

 

27,494

 

 

 

(21

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow (5)

$

8,664

 

 

$

5,643

 

 

 

54

%

 

$

10,255

 

 

$

12,868

 

 

 

(20

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

4,840

 

 

$

3,495

 

 

 

38

%

 

$

3,033

 

 

$

6,113

 

 

 

(50

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share, basic and diluted

$

0.05

 

 

$

0.04

 

 

 

25

%

 

$

0.03

 

 

$

0.07

 

 

 

(57

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic

 

88,959,935

 

 

 

90,354,982

 

 

 

 

 

 

 

89,635,759

 

 

 

90,296,057

 

 

 

 

 

Weighted average common shares outstanding, diluted

 

90,021,949

 

 

 

92,033,111

 

 

 

 

 

 

 

90,805,086

 

 

 

91,897,150

 

 

 

 

 

 

(1)

Cost of revenue – digital consists primarily of the costs of online media acquired from third-party publishers. Media cost is classified as cost of revenue in the period in which the corresponding revenue is recognized.

 

(2)

Operating expenses include direct operating and selling, general and administrative expenses. Included in operating expenses are $0.1 million and $0.3 million of non-cash stock-based compensation for the three-month periods ended June 30, 2018 and 2017, respectively, and $0.3 million and $0.5 million of non-cash stock-based compensation for the six-month periods ended June 30, 2018 and 2017, respectively. Operating expenses do not include corporate expenses, foreign currency (gain) loss, depreciation and amortization, impairment charge, gain (loss) on sale of assets, gain (loss) on debt extinguishment, other income (loss) and change in fair value of contingent consideration.

(3)

Corporate expenses include $1.1 million and $0.8 million of non-cash stock-based compensation for the three-month periods ended June 30, 2018 and 2017, respectively, and $2.1 million and $1.5 million of non-cash stock-based compensation for the six-month periods ended June 30, 2018 and 2017, respectively.


The following information was filed by Entravision Communications Corp (EVC) on Thursday, August 2, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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