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) 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
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
RELATED NEWS
Trade MDP now with 
Follow RTT