logo
Share SHARE
FONT-SIZE Plus   Neg

Meredith Q4 Profit Up, Tops Estimates; Sales Miss; Guides FY Earnings Above View

Magazine publisher Meredith Corp. (MDP: Quote) Thursday reported a rise in fourth-quarter net earnings, helped by lower income taxes which offset a weak revenue growth that stemmed mainly from decline in national advertising. Earnings also beat analysts' estimates, while revenues fell short.

In addition, the company issued guidance for fiscal 2015 earnings above Street View.

For the three months to June, net earnings grew to $40.44 million or $0.89 per share, from $33.8 million or $0.75 per share a year earlier.

Excluding certain items earnings totaled $39.9 million or $0.88 per share. On average, four analysts polled by Thomson-Reuters estimated the company's earnings to be $0.85 for the quarter. Analysts' estimates typically exclude one-time items.

EBITDA totaled $74.09 million, compared with $69.39 million in the same period last year.

Total revenues advanced to $390.79 million, from $386 million last year, but were below the $396.67 million Wall Street expected.

Total traffic to Meredith's websites increased to an average of over 60 million unique visitors per month, while magazine readership totals 110 million.

Meredith expects annual earnings of $3.00 to $3.25 per share, while analysts expect $2.76.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
'Booth babes' will not be seen at the RSA Conference scheduled to be held next month, as the exhibitors have added a new clause to its rules that ban revealing clothes. Although, RSA did not use the term "booth babe," its contract clearly explains that staff deployed at booths should wear business... Election fever has gripped the UK as Prime Minister David Cameron on Monday urged his people to prudently choose either a prosperous future under his Conservative Party or economic ruin under the Labour Party headed by Ed Miliband. Fast food giant McDonald's Corp. (MCD), reportedly plans to serve its breakfast menu for the whole day. According to a CNBC report citing analysts from Janney Capital Markets, McDonald's is planning to test serve breakfast for the whole day at select locations starting in the next few months. "Our...
comments powered by Disqus
RELATED NEWS
Trade MDP now with 
Follow RTT