The E.W. Scripps Co. (SSP: Quote) reported a narrower first-quarter net loss of $4.41 million, or 8 cents per share, compared with a loss, of $8.9 million, or 15 cents per share, in the year-ago quarter. Excluding the acquisition costs mentioned above, the net loss in the 2012 quarter would have been 2 cents, the company added.
Operating revenues advanced to $207.13 million from $180.36 million in the prior-year quarter.
On average, 3 analysts polled by Thomson Reuters expected loss per share of $0.03 on $202.22 million revenue for the quarter. Analysts' estimates typically exclude one-time items.
The company said its quarterly operating results reflect improved profitability of its local media businesses, driven by strong top- and bottom-line performance at the television stations and continued moderation of the declines in newspaper revenues.
Consolidated revenues were $207 million, up 15 percent from $180 million in the first quarter of 2011. The 2012 quarter included revenue from nine television stations that were acquired on December 30, 2011. Excluding the new stations, consolidated revenues increased 2.3 percent to $185 million.
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by RTT Staff Writer
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