Unassociated Document
Securities
and Exchange Commission
Washington,
D.C. 20549
FORM
6-K
Report
of
Foreign Issuer
Pursuant
To Rule 13a-16 or 15d-16
of
The
Securities Exchange Act of 1934
For
the month of July, 2007
|
Commission
File Number 1-12090
|
GRUPO
RADIO CENTRO, S.A.B. de C.V.
(Translation
of Registrant’s name into English)
Constituyentes
1154, Piso 7
Col.
Lomas Altas, México D.F. 11954
(Address
of principal office)
(Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.)
(Check
One) Form
20-F
X
Form
40-F
___
(Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing information to the Commission pursuant
to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
(Check
One) Yes
___
No
X
(If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b). 82-__ .)
Grupo
Radio Centro Reports Second Quarter and First Half 2007 Results
MEXICO
CITY, July 25 /PRNewswire-FirstCall/ -- Grupo Radio Centro, S.A.B. de C.V.
(NYSE: RC, BMV: RCENTRO-A) (the "Company"), one of Mexico's leading radio
broadcasting companies, announced today its results of operations for the second
quarter and first half ended June 30, 2007. All figures were prepared in
accordance with the Financial Reporting Standards issued by the Mexican Board
for Research and Development of Financial Information Standards and have been
restated in constant pesos as of June 30, 2007.
Second
Quarter Results
Broadcasting
revenue for the second quarter of 2007 was Ps. 145,498,000, representing a
decrease of 40.5% compared to Ps. 244,518,000 reported for the second quarter
of
2006. This decrease was mainly attributable to a decrease in advertising
expenditures by political parties, which purchased more airtime last year in
connection with the July 2006 presidential and congressional
elections.
The
Company's broadcasting expenses (excluding depreciation, amortization and
corporate, general and administrative expenses) for the second quarter of 2007
were Ps. 100,808,000, representing a decrease of 21.1% compared to Ps.
127,781,000 reported for the second quarter of 2006. This decrease was primarily
due to lower sales commissions to the Company's general sales force as a result
of the decrease in broadcasting revenue, a smaller allowance for doubtful
accounts than in the second quarter of 2006 (when the Company had a
larger-than-usual reserve in connection with receivables that the Company
ultimately sold in December 2006) and lower expenses relating to the Company's
advertising and marketing campaigns than in the second quarter of 2006, when
the
political election season impacted the Company's advertising and marketing
campaign expenses.
For
the
second quarter of 2007, the Company reported broadcasting income (i.e.,
broadcasting revenue minus broadcasting expenses, excluding depreciation,
amortization and corporate, general and administrative expenses) of Ps.
44,690,000, a 61.7% decline compared to Ps. 116,737,000 reported for the second
quarter of 2006. This decrease in broadcasting income was mainly attributable
to
the aforementioned decrease in broadcasting revenue.
Depreciation
and amortization expenses for the second quarter of 2007 were Ps. 8,609,000,
a
16.5% increase compared to Ps. 7,392,000 reported for the second quarter of
2006. Depreciation and amortization expenses were lower in the second quarter
of
2006 than in the second quarter of 2007 primarily because the Company reduced
depreciation and amortization expenses for the second quarter of 2006 to offset
excess depreciation and amortization expenses recorded for the first quarter
of
2006.
The
Company's corporate, general and administrative expenses were Ps.
3,729,000 for the second quarter of 2007, a 7.3% increase compared to
Ps.
3,474,000 reported for the second quarter of 2006.
The
Company reported operating income of Ps. 32,352,000 for the second quarter
of
2007, compared to operating income of Ps. 105,871,000 in the second quarter
of
2006. This decrease was due to lower broadcasting revenue in the second quarter
of 2007 compared to the second quarter of 2006, as described above.
The
Company's comprehensive financing cost for the second quarter of 2007 was Ps.
2,505,000, compared to a comprehensive financing gain of Ps. 2,319,000 reported
for the second quarter of 2006. This unfavorable change was mainly due to a
loss
on foreign currency exchange, net of Ps. 31,000 in the second quarter of 2007,
compared to a gain of Ps. 3,785,000 in the second quarter of 2006. This gain
in
the second quarter of 2006 resulted from the impact of peso appreciation on
the
Company's US dollar-denominated contingent liability provision. The Company
cancelled this provision in June 2006, as described below.
During
the second quarter of 2007, other expenses, net were Ps. 9,260,000, a 37.6%
decrease compared to Ps. 14,849,000 reported for the second quarter of 2006.
This decrease was mainly attributable to lower legal expenses during the second
quarter of 2007 compared to the second quarter of 2006.
In
the
second quarter of 2007, the Company reported income before extraordinary items
and provisions for income tax and employee profit sharing of Ps. 20,587,000,
a
77.9% decrease compared to Ps. 93,341,000 reported for the second quarter of
2006, mainly as a result of the decrease in broadcasting revenue described
above.
For
the
second quarter of 2007, the Company reported income before provisions for income
tax and employee profit sharing of Ps. 20,587,000, compared to Ps. 349,657,000
for the second quarter of 2006. In addition to higher broadcasting revenue,
as
described above, the 2006 period benefited from extraordinary income of Ps.
256,316,000, which resulted from the cancellation of the provision for a
contingent liability recorded by the Company in 2003 in connection with
arbitration proceedings. The Company cancelled the provision in June 2006 after
a Mexican court set aside and refused to enforce in Mexico an arbitration award
issued against the Company. The status of these arbitration proceedings is
discussed below.
The
Company recorded provisions for income tax and employee profit sharing of Ps.
4,977,000 for the second quarter of 2007, compared to Ps. 28,517,000 for the
second quarter of 2006. This decrease in provisions was primarily due to lower
taxable income for the second quarter of 2007 compared to the second quarter
of
2006.
As
a
result of the foregoing, the Company's net income for the second quarter of
2007
was Ps. 15,610,000, compared to net income of Ps. 321,140,000 in the second
quarter of 2006.
First
Half Results
For
the
six months ended June 30, 2007, broadcasting revenue was Ps.
270,518,000, representing a 36.9% decrease compared to Ps. 428,388,000 reported
for the same period of 2006. The decrease in broadcasting revenue was mainly
attributable to a decrease in advertising expenditures by political parties,
which purchased more airtime last year in connection with the July 2006
presidential and congressional elections.
The
Company's broadcasting expenses (excluding depreciation, amortization and
corporate, general and administrative expenses) for the first six months of
2007
were Ps. 207,770,000, a 10.3% decrease compared to Ps. 231,657,000 reported
for
the same period of 2006. This decrease was primarily due to the decrease in
sales commissions to the Company's general sales force as a result of the
decrease in broadcasting revenue, as well as the smaller allowance for doubtful
accounts during the first six months of 2007 compared to the same period of
2006.
Broadcasting
income (i.e., broadcasting revenue minus broadcasting expenses, excluding
depreciation, amortization and corporate, general and administrative expenses)
for the first six months of 2007 was Ps. 62,748,000, representing a decrease
of
68.1% compared to Ps. 196,731,000 reported for the same period of 2006. This
decrease was mainly attributable to the decrease in broadcasting revenue
described above.
Depreciation
and amortization expenses for the first six months of 2007 were Ps. 17,294,000,
a decrease of 6.1% compared to Ps. 18,422,000 reported for the same period
of
2006. This decrease resulted from the Company no longer recording depreciation
on Company vehicles whose useful lives ended in the second quarter of 2006,
which more than offset the increase in depreciation and amortization expenses
in
the second quarter of 2007 relative to the second quarter of 2006, described
above.
The
Company's corporate, general and administrative expenses for the first six
months of 2007 were Ps. 7,074,000, a slight decrease compared to Ps.
7,239,000 reported for the same period of 2006.
As
a
result of the foregoing, the Company reported operating income of Ps.
38,380,000 for the first six months of 2007, a 77.6% decrease compared to Ps.
171,070,000 reported for the same period of 2006.
The
Company's comprehensive cost of financing for the first six months of 2007
was
Ps. 2,009,000, a 73.9% decrease compared to Ps. 7,711,000 reported for the
same
period of 2006. This favorable change was mainly due to a decrease in interest
expense for the first six months of 2007 compared to the same period of 2006
as
a result of the Company no longer recording interest on bank debt after paying
off the remaining balance of its bank debt in May 2006. The favorable effect
of
this decrease was partially offset by a loss on net monetary position of Ps.
774,000 for the first six months of 2007, compared to a gain on net monetary
position of Ps. 1,327,000 reported for the same period of 2006.
Other
expenses, net for the first six months of 2007 were Ps. 19,937,000, a 17.7%
decrease compared to Ps. 24,236,000 reported for the same period of 2006. This
decrease was mainly attributed to lower legal expenses during the second quarter
of 2007 compared to the same period of 2006.
For
the
first six months of 2007, the Company had income before extraordinary items
and
provisions for income tax and employee profit sharing of Ps. 16,434,000, an
88.2% decrease compared to Ps. 139,123,000 reported for the same period of
2006,
mainly as a result of the decrease in broadcasting revenue described
above.
For
the
first six months of 2007, the Company reported income before provisions for
income tax and employee profit sharing of Ps. 16,434,000, compared to Ps.
395,439,000 reported for the same period of 2006. In addition to higher
broadcasting revenue, the 2006 period benefited from extraordinary income of
Ps.
256,316,000, which resulted from the cancellation in June 2006 of the provision
for the contingent liability relating to the arbitration proceedings described
below.
The
Company recorded provisions for income tax and employee profit sharing of Ps.
3,711,000 for the first six months of 2007, compared to Ps. 38,992,000 for
the
same period of 2006.
As
a
result of the foregoing, the Company reported net income of Ps.
12,723,000 for the first half of 2007, compared to net income of
Ps.
356,447,000 for the same period of 2006.
Legal
Proceedings
On
January 30, 2007, the Mexican Supreme Court (Suprema Corte de Justicia de la
Nacion) asked the Federal District's Thirteenth Circuit Court of Civil Matters
to analyze again the procedure and to resolve the case as Indirect Amparo. The
Federal District's Thirteenth Circuit Court of Civil Matters' June 2006 decision
had ratified a lower court's ruling to set aside a 2004 arbitration award issued
against the Company in an arbitration proceeding brought by Infored, S.A. de
C.V. ("Infored") and Mr. Jose Gutierrez Vivo. The Company can give no assurance
about the outcome of these proceedings or their duration.
Company
Description
Grupo
Radio Centro owns and/or operates 14 radio stations. Of these 14 radio stations,
Grupo Radio Centro operates 11 in Mexico City. The Company's principal
activities are the production and broadcasting of musical and entertainment
programs, talk shows, news and special events programs. Revenue is primarily
derived from the sale of commercial airtime. In addition to the Organizacion
Radio Centro radio stations, the Company also operates Grupo RED radio stations
and Organizacion Impulsora de Radio (OIR), a radio network that acts as the
national sales representative for, and provides programming to, Grupo Radio
Centro-affiliated radio stations.
Note
on
Forward-Looking Statements
This
release may contain projections or other forward-looking statements related
to
Grupo Radio Centro that involve risks and uncertainties. Readers are cautioned
that these statements are only predictions and may differ materially from actual
future results or events. Readers are referred to the documents filed by Grupo
Radio Centro with the United States Securities and Exchange Commission,
specifically the most recent filing on Form 20-F, which identifies important
risk factors that could cause actual results to differ from those contained
in
the forward-looking statements. All forward-looking statements are based on
information available to Grupo Radio Centro on the date hereof, and Grupo Radio
Centro assumes no obligation to update such statements.
GRUPO
RADIO CENTRO, S.A.B. DE C.V.
CONSOLIDATED
UNAUDITED BALANCE SHEETS
as
of
June 30, 2007 and 2006
in
Mexican Pesos ("Ps.") with purchasing power as of June 30, 2007
(figures
in thousands of Ps. and U.S. dollars ("U.S. $")(1), except per Share and per
ADS
amounts)
|
|
June
30,
|
|
|
|
2007
|
|
2006
|
|
|
|
U.S.
$(1)
|
|
Ps.
|
|
Ps.
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
Cash
and temporary investments
|
|
|
4,320
|
|
|
46,941
|
|
|
87,100
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts
receivable:
|
|
|
|
|
|
|
|
|
|
|
Broadcasting,
net
|
|
|
16,996
|
|
|
184,684
|
|
|
254,081
|
|
Other
|
|
|
515
|
|
|
5,596
|
|
|
8,883
|
|
Income
taxes recoverable
|
|
|
581
|
|
|
6,311
|
|
|
0
|
|
|
|
|
196,591
|
|
|
262,964
|
|
|
18,092
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepaid
expenses
|
|
|
2,072
|
|
|
22,515
|
|
|
17,676
|
|
Total
current assets
|
|
|
24,484
|
|
|
266,047
|
|
|
367,740
|
|
|
|
|
|
|
|
|
|
|
|
|
Property
and equipment, net
|
|
|
42,346
|
|
|
460,139
|
|
|
483,817
|
|
Deferred
charges, net
|
|
|
358
|
|
|
3,895
|
|
|
10,693
|
|
Excess
of cost over book value of
|
|
|
|
|
|
|
|
|
|
|
net
assets of subsidiaries, net
|
|
|
74,193
|
|
|
806,194
|
|
|
806,068
|
|
Other
assets
|
|
|
303
|
|
|
3,288
|
|
|
3,352
|
|
Total
assets
|
|
|
141,684
|
|
|
1,539,563
|
|
|
1,671,670
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
Advances
from customers
|
|
|
9,218
|
|
|
100,161
|
|
|
66,471
|
|
Suppliers
and other accounts payable
|
|
|
5,713
|
|
|
62,077
|
|
|
53,700
|
|
Taxes
payable
|
|
|
2,191
|
|
|
23,813
|
|
|
75,127
|
|
Total
current liabilities
|
|
|
17,122
|
|
|
186,051
|
|
|
195,298
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-Term:
|
|
|
|
|
|
|
|
|
|
|
Reserve
for labor liabilities
|
|
|
4,936
|
|
|
53,636
|
|
|
48,956
|
|
Deferred
taxes
|
|
|
472
|
|
|
5,134
|
|
|
24,619
|
|
Total
liabilities
|
|
|
22,530
|
|
|
244,821
|
|
|
268,873
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
Capital
stock
|
|
|
101,186
|
|
|
1,099,494
|
|
|
1,220,506
|
|
Cumulative
earnings
|
|
|
23,073
|
|
|
250,717
|
|
|
239,039
|
|
Reserve
for repurchase of shares
|
|
|
3,924
|
|
|
42,640
|
|
|
41,303
|
|
Cumulative
effect of
|
|
|
|
|
|
|
|
|
|
|
deferred
income taxes
|
|
|
(9,517
|
)
|
|
(103,411
|
)
|
|
(103,413
|
)
|
Effects
from labor liabilities
|
|
|
(28
|
)
|
|
(302
|
)
|
|
(265
|
)
|
Surplus
on restatement of capital
|
|
|
455
|
|
|
4,944
|
|
|
4,945
|
|
Minority
interest
|
|
|
61
|
|
|
660
|
|
|
682
|
|
Total
shareholders' equity
|
|
|
119,154
|
|
|
1,294,742
|
|
|
1,402,797
|
|
Total
liabilities and
|
|
|
|
|
|
|
|
|
|
|
stockholders'
equity
|
|
|
141,684
|
|
|
1,539,563
|
|
|
1,671,670
|
|
(1) |
Peso
amounts have been translated into U.S. dollars, solely for the convenience
of the reader, at the rate of Ps. 10.8661 per U.S. dollar, the noon
buying
rate for Mexican pesos on June 30,
2007.
|
GRUPO
RADIO CENTRO, S.A.B. DE C.V.
CONSOLIDATED
UNAUDITED STATEMENTS OF INCOME
for
the
three-month and six-month periods ended June 30, 2007 and 2006 expressed in
Mexican Pesos ("Ps.") with purchasing power as of June 30, 2007 (figures
in thousands of Ps. and U.S. dollars ("U.S. $")(1), except per Share and per
ADS
amounts)
|
|
2nd
Quarter
|
|
Accumulated
6 months
|
|
|
|
2007
|
|
2006
|
|
2007
|
|
2006
|
|
|
|
U.S.$
(1)
|
|
Ps.
|
|
Ps.
|
|
U.S.$
(1)
|
|
Ps.
|
|
Ps.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Broadcasting
|
|
|
|
|
|
|
|
|
|
|
|
|
|
revenue
(2)
|
|
|
13,390
|
|
|
145,498
|
|
|
244,518
|
|
|
24,896
|
|
|
270,518
|
|
|
428,388
|
|
Broadcasting
expenses,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
excluding
depreciation,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
amortization
and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
corporate
expenses
|
|
|
9,277
|
|
|
100,808
|
|
|
127,781
|
|
|
19,121
|
|
|
207,770
|
|
|
231,657
|
|
Broadcasting
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
income
|
|
|
4,113
|
|
|
44,690
|
|
|
116,737
|
|
|
5,775
|
|
|
62,748
|
|
|
196,731
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
amortization
|
|
|
792
|
|
|
8,609
|
|
|
7,392
|
|
|
1,592
|
|
|
17,294
|
|
|
18,422
|
|
Corporate,
general
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and
administrative
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
expenses
|
|
|
343
|
|
|
3,729
|
|
|
3,474
|
|
|
651
|
|
|
7,074
|
|
|
7,239
|
|
Operating
income
|
|
|
2,978
|
|
|
32,352
|
|
|
105,871
|
|
|
3,532
|
|
|
38,380
|
|
|
171,070
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
financing gain (cost):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
(78
|
)
|
|
(847
|
)
|
|
(879
|
)
|
|
(125
|
)
|
|
(1,361
|
)
|
|
(9,581
|
)
|
Interest
income (2)
|
|
|
(150
|
)
|
|
(1,627
|
)
|
|
(603
|
)
|
|
12
|
|
|
125
|
|
|
510
|
|
Gain
(loss) on foreign
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
currency
exchange, net
|
|
|
(3
|
)
|
|
(31
|
)
|
|
3,785
|
|
|
0
|
|
|
1
|
|
|
33
|
|
Gain
(loss) on net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
monetary
position
|
|
|
0
|
|
|
0
|
|
|
16
|
|
|
(71
|
)
|
|
(774
|
)
|
|
1,327
|
|
|
|
|
(2,505
|
)
|
|
2,319
|
|
|
(184
|
)
|
|
(2,009
|
)
|
|
(7,711
|
)
|
|
(231
|
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
expenses, net
|
|
|
(852
|
)
|
|
(9,260
|
)
|
|
(14,849
|
)
|
|
(1,835
|
)
|
|
(19,937
|
)
|
|
(24,236
|
)
|
Income
before
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
extraordinary
item
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and
provisions:
|
|
|
1,895
|
|
|
20,587
|
|
|
93,341
|
|
|
1,513
|
|
|
16,434
|
|
|
139,123
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Extraordinary
item
|
|
|
0
|
|
|
0
|
|
|
256,316
|
|
|
0
|
|
|
0
|
|
|
256,316
|
|
Income
before
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
provisions
|
|
|
1,895
|
|
|
20,587
|
|
|
349,657
|
|
|
1,513
|
|
|
16,434
|
|
|
395,439
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions
for income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
tax
& employee profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
sharing
|
|
|
458
|
|
|
4,977
|
|
|
28,517
|
|
|
342
|
|
|
3,711
|
|
|
38,992
|
|
Net
income
|
|
|
1,437
|
|
|
15,610
|
|
|
321,140
|
|
|
1,171
|
|
|
12,723
|
|
|
356,447
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income applicable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Majority
interest
|
|
|
1,437
|
|
|
15,606
|
|
|
321,083
|
|
|
1,170
|
|
|
12,714
|
|
|
356,353
|
|
Minority
interest
|
|
|
0
|
|
|
4
|
|
|
57
|
|
|
1
|
|
|
9
|
|
|
94
|
|
|
|
|
15,610
|
|
|
321,140
|
|
|
1,171
|
|
|
12,723
|
|
|
356,447
|
|
|
1,437
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income (loss) per
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series
A Share (3)
|
|
|
|
|
|
|
|
|
|
|
|
0.045
|
|
|
0.486
|
|
|
2.588
|
|
Net
income (loss) per
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADS
(3)
|
|
|
|
|
|
|
|
|
|
|
|
0.405
|
|
|
4.374
|
|
|
23.292
|
|
Weighted
average common
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
shares
outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(000's)
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
162,592
|
|
|
162,722
|
|
(1) |
Peso
amounts have been translated into U.S. dollars, solely for the convenience
of the reader, at the rate of Ps. 10.8661 per U.S. dollar, the noon
buying
rate for Mexican pesos on June 30,
2007.
|
(2) |
Broadcasting
revenue for a particular period includes (as a reclassification of
interest income) interest earned on funds received by the Company
pursuant
to advance sales of commercial air time to the extent that the underlying
funds were earned by the Company during the period in question. Advances
from advertisers are recognized as broadcasting revenue only when
the
corresponding commercial air time has been transmitted. Interest
earned
and treated as broadcasting revenue for the second quarter of 2007
and
2006 was Ps. 537,000 and Ps. 1,243,000, respectively. Interest earned
and
treated as broadcasting revenue for the six months ended June 30,
2007 and
2006 was Ps. 934,000 and Ps. 1,846,000,
respectively.
|
(3) |
Earnings
per share calculations are made for the last twelve months as of
the date
of the income statement, as required by the Mexican Stock
Exchange.
|
RI
Contacts
In
Mexico:
Pedro
Beltran/Alfredo Azpeitia
Grupo
Radio Centro, S.A.B. de C.V.
Tel
(5255) 5728-4800 Ext. 7018
In
NY:
Maria
Barona/Peter Majeski
i-advize
Corporate Communications, Inc.
Tel:
(212) 406-3690
SOURCE
Grupo Radio Centro, S.A.B. de C.V.
-0- 07/25/2007
/CONTACT:
RI Contacts, in Mexico: Pedro Beltran or Alfredo Azpeitia, both of Grupo Radio
Centro, S.A.B. de C.V., +011-5255-5728-4800, Ext. 7018, [email protected];
or
in NY: Maria Barona or Peter Majeski, both of i-advize Corporate Communications,
Inc., +1-212-406-3690, [email protected]/
/First
Call Analyst: /
/Web
site: http://www.radiocentro.com.mx /
(RC)
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
Grupo
Radio Centro, S.A.B. de C.V.
|
|
(Registrant)
|
|
|
|
|
|
|
Date:
July 26, 2007
|
By:
|
/s/
Pedro Beltrán Nasr
|
|
|
Name:
Pedro Beltrán Nasr
|
|
|
Title:
Chief Financial Officer
|