Santa Monica, Calif.-based Entravision reports that its fourth quarter revenue slipped to $52.76 million from $62.514 million earned during the same period in 2007. The company said its net loss grew 190% to $136,483 compared to $47,051. That is a per share loss of $1.58 compared to a loss of 48 cents during the same period last year.
For the full year 2008, Entravision revenue fell 7% versus 2007 to $232.3 million from $250 million, or a per share loss of $5.39 compared to a 42-cent per share loss.

"Our radio division also had a soft quarter as revenues decreased 16%. National revenue was up 1% while local revenue declined 22%," said Chairman/CEO Walter Ulloa during a Thursday evening teleconference. "Monthly revenues weakened, as we move through the quarter inline with the entire radio industry. We saw growth in four of our top ten categories, with healthcare increasing by 6% while financial and grocery we saw a 1% increase and political saw a huge increase, but these could not offset the decreases we experienced."

Ulloa reported Entravision’s retail advertising fell 25%, travel and leisure was down 14% and automotive fell 54%. He added that the radio division had "a very successful political season of revenue of $1.2 million for the quarter and slightly less than $2 million for the full year. This is an increase of 220% for fourth quarter over the 2004 presidential elections and a 157% increase for the year. This exceeded our internal expectations, as we benefited from operating radio stations in a number of battleground states including Nevada, New Mexico, Colorado and Florida."

Overall for the year, Ulloa said Entravision saw a 6% growth spurt in fast food restaurant advertising while the alcoholic beverage ad category rose 3%. But the automotive category dropped 34%, service advertising was down 3%, travel and leisure were down 10%, and retail was off by a whopping 24%.

In the quarter, Entravision Radio added 14 new advertisers who spent more than $10,000, and for the year, reported the executive, "we brought in 91 new advertisers who spend over $10,000 with our radio properties." Among the company’s new clients are Molina Healthcare, Target, We Are America Alliance, Celebrity Nissan, Direct and State Farm.

In a research note to clients Friday morning, Wachiova Capital Markets Media analysts Marci Ryvicker and Timothy Schlock say the company’s fourth quarter results were "surprisingly bad all around" and called the last quarter "dismal" with revenues off by 16%, including local down 22% and national adverting off 1%. "Station operating income was -43%. PPM continues to show a significant increase in Spanish language cume, although Arbitron's minority sample composition remains questionable."

Shares of EVC are up 3 cents to 38 cents in Friday mid-morning trading.