TV Azteca Q4 income quadruples
Mexico City-based firm reports $62 mil profitMEXCIO CITY -- TV Azteca, Mexico's No. 2 network, on Thursday reported a fourfold increase in fourth-quarter net income thanks to the absence of a one-time tax provision that dragged down earnings a year earlier.
Mexico City-based Azteca reported a quarterly net profit of 863 million pesos ($62 million), up from 186 million pesos a year ago.
Azteca chief executive Mario San Roman said that Azteca's "successful programming" was effective in drawing ad revenue, but net sales came in flat at 2.9 billion pesos as programming exports and ad sales generated from its U.S. Spanish-language network Azteca America decreased during the period.
A good sign, however, were year-end upfront sales figures, which increased by 8%.