The guru stock that went up the most on Friday is Spanish Broadcasting (SBSA, Financial), which advanced 41.2%. Spanish Broadcasting System is a U.S. based, Hispanic-controlled media and entertainment company that operates radio and television stations. Of all the investors GuruFocus tracks, only Jim Simons holds Spanish Broadcasting stock. He bought 197,420 shares in the fourth quarter of 2011, which comprises .0024% of his portfolio of 2,758 stocks.
Spanish Broadcasting stock jumped due to highly positive fourth-quarter results released on March 30. The company’s fourth-quarter income increased to $3.68 million or $0.51 per share from $880 thousand or $0.12 per share in the same quarter of 2010. Consolidated net revenue increased 9% to $38.2 million from $34.9 million.
Previously, Spanish Broadcasting’s revenue had been slipping annually since 2007. It also had net losses in 2008 and 2009, which swung to net income of $15 million in 2010.
"We made significant progress during 2011 in executing our plan and advancing our financial performance," commented Raul AlarcĂłn, Jr., chairman and CEO. "Our results reflect the improving advertising climate and the strength of our diversified media assets in reaching the fast-growing Hispanic audience. We have improved the cash generation of our business considerably through a disciplined approach to cost management, even as we have continued to strategically invest in building our brands, expanding our content and supporting our digital platform. Given the positioning of our assets in the nation's largest Hispanic markets and the ongoing robust growth of the Spanish speaking population, we remain very optimistic about our long-term outlook given the increasing need for advertisers to reach our audience."
Spanish Broadcasting stock jumped due to highly positive fourth-quarter results released on March 30. The company’s fourth-quarter income increased to $3.68 million or $0.51 per share from $880 thousand or $0.12 per share in the same quarter of 2010. Consolidated net revenue increased 9% to $38.2 million from $34.9 million.
Previously, Spanish Broadcasting’s revenue had been slipping annually since 2007. It also had net losses in 2008 and 2009, which swung to net income of $15 million in 2010.
"We made significant progress during 2011 in executing our plan and advancing our financial performance," commented Raul AlarcĂłn, Jr., chairman and CEO. "Our results reflect the improving advertising climate and the strength of our diversified media assets in reaching the fast-growing Hispanic audience. We have improved the cash generation of our business considerably through a disciplined approach to cost management, even as we have continued to strategically invest in building our brands, expanding our content and supporting our digital platform. Given the positioning of our assets in the nation's largest Hispanic markets and the ongoing robust growth of the Spanish speaking population, we remain very optimistic about our long-term outlook given the increasing need for advertisers to reach our audience."
