News Cycle

A look at the news, politics and journalism in today’s 24-hour media.

Scripps Reports 18 Percent Decrease in 4Q Consolidated Revenues in 2009

leave a comment »

The E.W. Scripps Co. reported operating today that consolidated revenues were $217 million, an 18 percent decrease from $265 million in the fourth quarter of 2008. Compared with the third quarter, the year-over-year rate of revenue decline in the fourth quarter improved for both the television and newspaper divisions.

Expenses, excluding restructuring costs, were reduced 17 percent to $185 million from $223 million in the year-ago period.

Income from continuing operations in the fourth quarter of 2009, net of tax, was $14.1 million, or 22 cents per share, compared with a net loss from continuing operations of $3.6 million, or 6 cents per share, in the 2008 quarter.

The 2009 quarter included after-tax restructuring costs of $3.6 million, or 6 cents per share, for the consolidation of certain functions at its television stations and the continued rationalization of functions and centralization of processes in its newspaper division. The 2008 quarter included after-tax costs totaling $36.9 million, or 69 cents per share, reflecting severance costs in the newspaper division, the write-down of certain assets in the television division, the write-down of a newspaper investment, and costs related to the spin-off of Scripps Networks Interactive.

Advertisements

Written by newscycle

February 23, 2010 at 4:19 pm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: