» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 40 | Wednesday, February 27, 2013

E.W. Scripps Posts Higher Fourth-Quarter Earnings, Revenue

AP

Print | Front Page | Email this story | Comments ()

CINCINNATI (AP)The E.W. Scripps Co. reported sharply higher earnings and revenue for the fourth quarter on Tuesday, helped by higher political advertising revenue ahead of the elections last November. The results were also aided by contributions from TV stations the company bought in 2011.

The newspaper publisher and TV station owner earned $27.2 million, or 47 cents per share, in the three months that ended on Dec. 31. That's up from $6.3 million, or 11 cents per share, in the same period a year earlier.

Revenue rose 32 percent to $259.8 million from $197.4 million. FactSet only quotes one analyst estimate for Scripps, which is not enough for consensus measurement. The analyst expected the company to earn 55 cents per share on revenue of $261.1 million.

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 financial results include revenue from television stations in Indianapolis, Denver, San Diego and Bakersfield, Calif., all of which the company purchased in 2011. Without the new stations, revenue would have grown 14 percent to $225 million.

Political advertising soared to $56.9 million from $3.5 million a year earlier. Political ad revenue for the quarter was higher than for any previous full year, the company said.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 186 6,958
MORTGAGES 103 260 9,540
FORECLOSURE NOTICES 0 26 2,016
BUILDING PERMITS 179 463 16,201
BANKRUPTCIES 82 200 6,259
BUSINESS LICENSES 23 68 2,666
UTILITY CONNECTIONS 68 257 8,725
MARRIAGE LICENSES 26 113 2,110

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.