Spanish Broadcasting Systems In (OTC:SBSAA)

Spanish Broadcasting Systems (OTC:SBSAA) ($5.05; $33.2M market cap) reported Q3 2021 results:

• Sales of $38.9 million vs $29.9 million in the prior year
• EPS of $0.11 vs loss of $0.61 in the prior year

“Our third quarter results evidenced continued solid financial performance as we again delivered double digit growth in both net revenue and Adjusted OIBDA, driven by the strong performance of our core radio business,” commented Raúl Alarcón, Chairman and Chief Executive Officer of SBS. “Radio revenue and Adjusted OIBDA again exceeded 2019 pre-pandemic levels for the second consecutive quarter, a validation of the ability of our teams to effectively monetize the popularity of our branded content and the engagement we have established with the nationwide Latino consumer.”

“We continue to project positive momentum for the Company going forward.”

For more color on the company’s recent restructuring efforts, see GeoContributor Robert Mulcahy article from July, when the stock was trading at around $3.00.