Univision’s Profit Doubles on Higher TV, Radio Ratings

Univision Communications Inc.’s first-quarter profit more than doubled on the strength of higher ratings at the Spanish-language broadcaster’s radio and television stations and three networks.

Univision on Thursday reported net income of $31.6 million, or 9 cents a share, in the quarter ended March 31, compared with $12.8 million, or 5 cents a share, in the same period last year.

Analysts surveyed by Thomson First Call had expected Univision to earn 8 cents a share for the quarter.

Revenue rose 35% to $352.9 million, compared with $261.7 million in the first quarter of 2003, the company said.

The total includes $63.3 million in revenue from Univision Radio, formerly Hispanic Broadcasting Corp., which Univision acquired in September for $3.2 billion.

“Univision Communications once again delivered record results in the first quarter, with each of our businesses securely positioned as the No. 1 Spanish-language media-entertainment property in its respective industry,” A. Jerrold Perenchio, Univision’s chairman and chief executive, said in a statement.

The company said its three networks -- Univision, Galavision and Telefutura -- delivered the largest total audience numbers in the company’s history during the quarter.

Univision said second-quarter earnings per share would rise to 18 cents to 20 cents, compared with 15 cents in the same period last year.

Depreciation and amortization expense should be about $25 million, the company said.

Univision shares fell nearly 5%, or $1.59, to $32.27 on the New York Stock Exchange.