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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;

Stock News for Scripps Networks Int (SNI)
09/01/201516:15:00Scripps Networks Interactive to Participate at Goldman Sachs...
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08/31/201512:30:00Explorer Josh Gates Sets Out On All-New Thrilling Adventures...
08/27/201512:01:00Travel Channel's 'Booze Traveler' Serves Up Another Round of...
08/27/201508:57:00Two Weeks Remain to Enter DIY Network Blog Cabin 2015 Giveaway
08/25/201512:00:00Travel Channel's 'Bizarre Foods' With Andrew Zimmern Kicks Off...
08/25/201508:44:48Statement of Changes in Beneficial Ownership (4)
08/25/201507:22:00Scripps Networks Interactive to participate at Bank of America...
08/24/201516:14:26Current Report Filing (8-k)
08/24/201514:49:00Rachael Ray Joins Anne Burrell In First-Ever Culinary Boot Camp...
08/24/201510:55:31Statement of Changes in Beneficial Ownership (4)
08/24/201510:54:38Statement of Changes in Beneficial Ownership (4)
08/24/201510:52:54Statement of Changes in Beneficial Ownership (4)
08/24/201510:17:28Initial Statement of Beneficial Ownership (3)
08/24/201510:14:58Initial Statement of Beneficial Ownership (3)
08/20/201510:35:00Scripps Networks Interactive Promotes Two Senior Management Executives
08/18/201516:11:00Scripps Networks Interactive declares quarterly dividend
08/13/201515:28:41Amended Statement of Changes in Beneficial Ownership (4/a)
08/13/201515:20:09Statement of Changes in Beneficial Ownership (4)
08/11/201511:16:48Statement of Changes in Beneficial Ownership (4)

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