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Clear Channel Communications

(CCU) - Get Cia Cervecerias Unidas SA Report

swung to a profit on a 19% surge in revenue in the fourth quarter as the company saw solid gains across all its categories.

The country's biggest radio station owner earned $184 million, or 30 cents a share, in the latest quarter, compared with a loss of $366 million, or 61 cents share, last year. The company earned $579 million before interest, taxes, depreciation and amortization in the fourth quarter, up from $345 million a year ago.

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The company's revenue rose 19% to $2.21 billion in the quarter. Fourth-quarter radio revenue rose 10% to $979 million and EBITDA rose 43% to $428 million; fourth-quarter billboard revenue rose 17% and EBITDA rose 44%; and fourth-quarter entertainment revenue rose 28% to $562 million and EBITDA increased from a negative $18 million in 2001 to a positive $12 million in 2002.

It expects first-quarter EBITDA of between $370 million and $390 million.