In the news release, Entravision Communications Corporation Reports Third Quarter 2006 Results, issued earlier today by Entravision Communications Corporation over PR Newswire, we are advised by the company that the Cautionary Note Regarding Preliminary Quarterly Results should be the following: In connection with the preparation of the Company's financial statements for the second quarter ended June 30, 2006, the Company is assessing whether there may have been an error in its income tax provision in connection with the pending disposition of its radio assets in Dallas. The Company is still assessing whether there was an error and the amount of any such error. Accordingly, certain numbers presented herein are subject to change upon the conclusion of such assessment. If there were an error, it was as an understatement of income tax expense in the second quarter in an amount of approximately $0 to $6.5 million, based upon the Company's current best estimates, which would have resulted in net loss applicable to common shareholders being overstated by such amount for the three- and six-month periods ended June 30, 2006 as previously reported. The correction of any such error in the third quarter would result in income tax expense that would be larger by such amount, and result in net loss applicable to common shareholder being understated by such amount for the three- and nine-month periods ended September 30, 2006 as reported herein. Any error and any related correction would only affect income tax expense and net loss, which does not affect operating income. In connection with the ongoing assessment of any such adjustment, the Company is still evaluating whether this will result in a restatement of its second quarter financial statement, including an evaluation of whether this matter is material to the Company's financial statements for the three- and nine-month periods ended September 30, 2006, or whether the Company will reflect the correction of any error in its results for the third quarter ended September 30, 2006. Solely as a result of the foregoing, the Company is also in the process of assessing the impact of this matter on management's assessment of internal controls over financial reporting relating to current and prior periods. In connection with its assessment as of December 31, 2005, management had concluded that the Company maintained effective internal controls over financial reporting as of such date. Management intends to complete the assessments described above in time to permit a timely filing of its quarterly report for the period ended September 30, 2006. The Company will make additional disclosures related to this matter, as may be necessary or appropriate. This was originally issued inadvertently. DATASOURCE: Entravision Communications Corporation Web site: http://www.entravision.com/

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