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Scripps Networks 1Q Net Up 39% As Ad Revenue Leads Top Line Higher

DOW JONES NEWSWIRES Scripps Networks Interactive Inc.'s (SNI) first-quarter profit jumped 39% as the top line beat expectations amid higher advertising revenue. The owner of HGTV and Food Network has seen higher ad revenue bolster earnings lately. Scripps has benefited from its December 2009 acquisition of a controlling stake in Travel Channel. Last week, it agreed to sell shopping-related website business Shopzilla, paring its interactive services segment's holdings. Scripps posted a profit of $100.5 million, or 59 cents a share, up from $72.5 million, or 43 cents a share, a year earlier. Excluding items such as a noncontrolling interest adjustment and prior-year impacts related to Travel Channel integration, earnings rose to 62 cents from 50 cents. Revenue jumped 14% to $546 million. Analysts polled by Thomson Reuters most recently forecast a profit of 59 cents on $523 million in revenue. Operating margin surged to 38.7% from 30.6%. Revenue at the lifestyle media segment, which includes the cable channels and accounts for the bulk of the total, rose 11% as affiliate fee revenue increased 6% and ad revenue was 12% higher. The Food Network brand saw revenue climb 15% while HGTV revenue increased 6%. Class A shares closed Wednesday at $51.02 and were inactive in recent premarket trading. Through the latest close, the stock is up 12% the past year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Scripps Networks Int (SNI)
DateTimeHeadline
07/07/201511:36:00Alton Brown Brings Cutthroat Kitchen To The Great Outdoors In...
07/02/201510:26:39Statement of Changes in Beneficial Ownership (4)
07/02/201510:21:02Statement of Changes in Beneficial Ownership (4)
07/02/201510:14:37Statement of Changes in Beneficial Ownership (4)
07/02/201502:01:00Scripps Networks Interactive Completes Acquisition of Polish...
07/02/201501:50:28Stolt-Nielsen Limited Reports Improved Unaudited Results For...
06/30/201516:45:13Current Report Filing (8-k)
06/26/201515:36:42Statement of Changes in Beneficial Ownership (4)
06/26/201515:32:47Statement of Changes in Beneficial Ownership (4)
06/25/201510:23:00Jonathan Defeats Drew in Final Battle of HGTV’s ‘Brother vs...
06/24/201504:59:32Stolt-Nielsen Limited : Presentation and Conference Call Second-Quarter...
06/23/201515:15:21Statement of Changes in Beneficial Ownership (4)
06/23/201510:45:18Stolt Tankers Acquires Three Ships for European Regional Fleet
06/16/201513:42:00Food Network Heats Up This Summer With New Seasons Of Chopped...
06/16/201507:15:00Scripps Networks Interactive to participate in Bernstein conference
06/11/201502:30:51Stolt-Nielsen Limited and Golar LNG Limited Enter Joint Venture...
06/10/201517:14:25Current Report Filing (8-k)
06/09/201516:11:00Scripps Networks Interactive Intends to Make 100% Ownership Offer...
06/05/201517:16:23Statement of Changes in Beneficial Ownership (4)
06/05/201516:42:03Amended Statement of Beneficial Ownership (sc 13d/a)

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