Scripps Networks Interactive Inc. (SNI) reported that its first-quarter net income attributable to company decreased to $107.82 million or $0.72 per share from $114.90 million or $0.73 per share last year. The company noted that the first quarter of 2013 includes unfavorable tax adjustments totaling $7.8 million, or $0.05 per share, including the impact from the enactment of the American Taxpayer Relief Act of 2012.
Operating revenues increased to $594.39 million from $535.35 million last year. The company said its results for the quarter reflect strong advertising revenue of $395 million, up 11 percent, and affiliate fee revenue of $187 million, up 11 percent year over year. Expenses for the quarter increased 17 percent from the prior-year period.
On average, 20 analysts polled by Thomson Reuters expected the company to report profit of $0.74 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $582.52 million for the quarter.
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