Scripps Networks Interactive Reports Third Quarter Financial Results
Business Wire, Nov 06, 2009
CINCINNATI — Scripps Networks Interactive Inc. (NYSE: SNI) today reported operating
results for the third quarter 2009.
Results for the three-month period ended Sept. 30 reflect strong
affiliate fee revenue growth and improved advertising sales at the
companys flagship cable television networks, Food Network and HGTV.
Consolidated revenue for the quarter was flat relative to the prior year
period at $364 million. snoring cure Total revenue from the companys portfolio of
Lifestyle Media television networks, Web sites and other related
businesses was up 4.3 percent for the period compared with last year.
Consolidated expenses for the quarter decreased 4.5 percent year over
year.
Third quarter net income attributable to Scripps Networks Interactive
was $65.3 million, or 39 cents per share, compared with $57.3 million,
or 35 cents, in the third quarter 2008. In the third quarter 2008, net
income was reduced by 3 cents per share due to a $4.5 million charge
that resulted from a re-measurement of the companys deferred tax
liabilities. The re-measurement was related to the companys spinoff
from its former parent.
In the third quarter 2009, consolidated segment profit was up 7.9
percent to $144 million from $134 million in the prior-year period. (See
Note 2 for a definition of segment profit). The company generated $157
million in cash from continuing operations.
Led by HGTV and Food Network, revenue at the companys Lifestyle Media
business segment grew 4.3 percent to $326 million
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