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VOL. 127 | NO. 221 | Monday, November 12, 2012

E.W. Scripps Posts 3rd Quarter Profit, Reversing Loss

AP

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CINCINNATI (AP) The E.W. Scripps Co. returned to profitability in the third quarter, thanks to sharply higher political advertising revenue and contributions from TV stations it bought in 2011.

The newspaper publisher and TV station owner earned $12 million, or 21 cents per share, in the July-September quarter. In the same period last year, it lost $10.7 million, or 19 cents per share.

Revenue rose 31 percent to $219.6 million from $167.9 million a year ago, the company said Friday.

Analysts, on average, forecast earnings of 11 cents per share on revenue of $212.6 million, according to a poll by FactSet.

Scripps owns newspapers such as the Ventura County Star in California and The Commercial Appeal of Memphis, Tenn. Its stations include WCPO in Cincinnati and WPTV in West Palm Beach, Fla.

The quarter's results include revenue from TV stations in Indianapolis, Denver, San Diego and Bakersfield, Calif., that the company acquired on Dec. 30, 2011. Without the new stations, revenue would have grown 15 percent, to $193 million. Revenue from political TV ads grew to $33.9 million from $2 million a year earlier.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 324 13,221
MORTGAGES 0 477 17,235
FORECLOSURE NOTICES 0 82 3,380
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 0 276 12,619
BUSINESS LICENSES 0 87 4,576
UTILITY CONNECTIONS 0 487 19,380
MARRIAGE LICENSES 0 122 4,031

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