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Meredith Q3 Profit Slides - Quick Facts

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Meredith Corp. (MDP: Quote) posted a decrease in third-quarter net earnings to $21.17 million or $0.47 per share from $30.84 million or $0.67 per share a year earlier. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.66 for the quarter. Analysts' estimates typically exclude one-time items.

Howeverm total revenues increased to $345.51 million from $338.88 million in the previous year, whereas 6 analysts estimated revenues of $349.37 million for the quarter.

Looking ahead to the fourth quarter of fiscal 2012, Meredith sees earnings per share of $0.63 - $0.66. This range now includes approximately $0.10 of dilution related to Allrecipes.com.

Meredith expects fiscal 2012 earnings per share before the special charge to range from $2.47 - $2.50. This range now includes about $0.12 of dilution related to Allrecipes.com.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
The Bank of Japan expanded its massive quantitative and qualitative easing unexpectedly as policymakers assessed it necessary to achieve the 2 percent inflation target even after a sales tax hike in April. In a 5-4 vote, the Policy Board led by Governor Haruhiko Kuroda decided to raise the monetary base at an annual pace of about JPY 80 trillion. LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month.
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