Univision Profit Rises

The first quarter is in line with estimates.
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Spanish-language broadcaster

Univision

(UVN)

posted a first-quarter profit rise and guided in line with estimates.

The Los Angeles media company, which is in the process of exploring strategic alternatives including a possible sale, made $53.9 million, or 16 cents per share, for the quarter ended March 31. That compared to $44.5 million, or 13 cents per share, in the same period last year. Revenue was up 4% to $449.8 million.

Analysts surveyed by Thomson Financial had expected the company to earn 15 cents on $456.2 million in revenue.

"Our strategic combination of industry-leading assets has made Univision Communications the No. 1 Spanish-language media company in the country," said Chairman and Chief Executive Jerrold Perenchio. "As the U.S. Hispanic population continues to grow rapidly and increasingly gain recognition by advertisers, Univision is well positioned to sustain superior revenue and cash-flow growth."

"Coming off a strong first quarter, I am confident that our high ratings and attractive demographics will allow us to deliver another successful Upfront," Perenchio added, referrning to the annual the time period in which advertisers make advance commitments to the TV networks' fall schedules.

The company said that, looking forward to the second quarter, it expects revenues to increase by "mid to high twenties percentages" and expects earnings per share of 31 or 32 cents. The company said that guidance includes the impact of the World Cup, which Univision holds rights to.

Wall Street expects Univision to earn 32 cents on sales of $645 million during the second quarter.

On Thursday, shares ended regular trading up 6 cents to $35.75.