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Scripps Networks Interactive strong growth in advertising- turns to Profit

Scripps Networks Interactive Inc. [[SNI]] said Wednesday that fourth-quarter earnings were $94.4 million, or 57 cents a share. In the same period last year, Scripps lost $154 million, or 94 cents a share. Operating revenue grew 6% to $430 million from $405 million.

Consolidated revenue for the quarter increased 6.0% to $429.74 million from $405.34 million in the the prior-year period. Ten analysts had consensus revenue estimate of $410.56 million for the quarter.

Consolidated expenses for the quarter increased 25 percent from the prior-year period to $278 million. The increase in expenses included:

— A $21.1 million write-down of the value of Fine Living Network programming. The write-down was the result of a programming evaluation undertaken as part of the company’s plan to rebrand Fine Living as the Cooking Channel.

— $13.6 million related to the Travel Channel acquisition and international investments.

— $4.4 million in marketing and legal expenses to support the company’s affiliate agreement renewals.

Excluding these items, consolidated expenses were up 7.0 percent year-over-year.

Fourth quarter net income attributable to Scripps Networks Interactive was $94.4 million, or 57 cents per share, compared with a net loss of $154 million in the fourth quarter 2008. The net loss in the prior-year period included a write-down in the value of goodwill at the company’s Shopzilla comparison shopping subsidiary.

About the AuthorProfessional

Bettina is an Executive editor who oversees CEOWORLD Magazine's Internet, lifestyle, education, technologies, and lists & rankings sections. Bettina graduated from Columbia University and holds a master's degree from Georgetown University's Graduate School of Journalism. (

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