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E.W. SCRIPPS COMPANY REPORTS RESULTS

 E.W. SCRIPPS COMPANY REPORTS RESULTS
 CINCINNATI, Jan. 28 /PRNewswire/ -- The E.W. Scripps Company


(NYSE: SSP) today said its net income in the fourth quarter increased 18.3 percent to $24.9 million, 33 cents per share, from $21.0 million, 28 cents per share, in the year-ago quarter.
 For the full year 1991, net income was $71.0 million, 95 cents per share, compared to $71.7 million, 94 cents per share, in 1990, excluding unusual charges from both years. The average number of shares outstanding was 1.9 million fewer in 1991.
 "I'm proud of the job our people did in this difficult revenue environment," said Lawrence A. Leser, president and chief executive officer. "Expense control efforts throughout the company were exceptional."
 Long-term debt was $492 million at year-end, up $124 million from the end of 1990. Borrowing increased during the year because of the May 30 acquisition of Baltimore television station WMAR (for $125 million) and increased capital expenditures.
 Fourth Quarter Operating Results
 Consolidated operating income increased 2.9 percent to $62.8 million and operating cash flow (operating income plus depreciation and amortization) was up 9.5 percent to $93.5 million.
 Consolidated revenues increased 2.4 percent to $354 million.
 Publishing, Fourth Quarter
 Operating income was up 2.7 percent to $33.3 million. Depreciation and amortization increased $4.1 million because of an additional depreciation charge to adjust the carrying value of certain equipment held for resale to its estimated realizable value.
 Operating cash flow increased 12.2 percent to $45.0 million. Revenues were up only slightly, but the two largest expenses declined year-over-year. Newsprint was off $5.8 million, or 16.7 percent, due to less consumption and lower prices, and employee costs declined about 1 percent because of staff reductions.
 Publishing division revenues were $223 million. In the newspaper group, circulation revenues were up 3.8 percent to $36.9 million reflecting price increases at most of the newspapers. Advertising revenues were off 3.2 percent to $132 million. Broken down by source:
 -- Local decreased 5.0 percent to $66.3 million;
 -- Classified decreased 4.9 percent to $37.8 million;
 -- Preprints increased 7.6 percent to $20.9 million;
 -- National decreased 5.7 percent to $7.0 million.
 Total advertising volume declined 8.1 percent. Nearly all of the company's newspapers experienced year-over-year declines in volume in the fourth quarter.
 Character licensing revenues were $16.7 million, down 1.6 percent.
 Broadcasting, Fourth Quarter
 Operating income was off 3 percent to $23.0 million and operating cash flow increased 1.1 percent to $27.6 million. Total expenses increased 15.5 percent, largely the result of the addition of television station WMAR. Depreciation and amortization increased $1 million, or 28.6 percent.
 Revenues were up 8.9 percent to $72.8 million. Excluding WMAR, revenues declined due to the generally weak demand for advertising time and a sharp decline in political advertising year-over-year.
 Cable Television, Fourth Quarter
 Operating income advanced 12.1 percent to $9.7 million. Depreciation and amortization increased $1.3 million. Operating cash flow increased 11.1 percent to $24.0 million.
 Revenues increased 8.6 percent. New subscribers totaled 8,700 in the fourth quarter and 30,300 in the last 12 months for a total of 643,500 at year end. Most of the company's systems experienced good growth in the fourth quarter. The exception was Sacramento, Calif., which was affected by a slowdown in the local economy.
 Full-Year 1991 Results
 Net income was $71.0 million, 95 cents per share, excluding an unusual charge of $6.3 million, 8 cents per share. The first-quarter charge was the result of a $12 million payment made by Sacramento Cable to competitor Pacific West Cable Company in connection with the settlement of a three-year-old lawsuit.
 In 1990 net income was $71.7 million, 94 cents per share, excluding an unusual charge of $23.7 million, 31 cents per share, resulting from an agreement to terminate the Knoxville (TN) News-Sentinel's joint operating agreement with the Knoxville Journal. Joint operations ended Dec. 31, 1991. The Journal, owned by Persis Corporation, has ceased daily publication.
 Interest expense declined $5.1 million in 1991, largely the result of lower interest rates.
 Consolidated operating income, excluding the charges, declined 5.4 percent to $188 million. Total expenses were up 2.3 percent. Depreciation and amortization increased 5.2 percent to $112 million, including the additional depreciation charge in the fourth quarter. Operating cash flow declined 1.7 percent to $300 million.
 Revenues improved slightly to $1.3 billion as declines from both publishing and broadcasting were more than offset by an increase from cable television.
 The E.W. Scripps Company operates 19 daily newspapers, 10 television stations, five radio stations and cable television systems with 643,500 basic subscribers. The company also is a worldwide syndicator and licensor of news features and comics.
 THE E.W. SCRIPPS COMPANY
 (In thousands, except share data)
 Three Months Year
 Periods ended Dec. 31 1991 1990 1991 1990
 Operating Revenues
 Publishing $222,946 $222,743 $827,054 $847,770
 Broadcasting 72,775 66,820 245,450 235,580
 Cable Television 58,073 53,477 225,249 199,413
 Other -- 2,508 1,804(B) 13,836
 Total oper. revenues 353,794 345,548 1,299,557 1,296,599
 Operating Income:
 Publishing 33,326 32,464 107,805 80,188(C)
 Broadcasting 23,049 23,766 57,170 69,094
 Cable Television 9,741 8,686 23,682(A) 26,810
 Other -- 233 152(B) 1,277
 Corporate (3,326) (4,119) (12,870) (15,002)
 Total operating income 62,790 61,030 175,939 162,367
 Interest expense (9,411) (10,673) (38,727) (43,840)
 Miscellaneous, net (212) (4,442) 189 (2,233)
 Provision for
 income taxes (25,042) (21,542) (65,702) (58,958)
 Minority interests (3,241) (3,337) (7,117) (9,321)
 Net income 24,884 21,036 64,582(A) 48,015(C)
 Net income per share
 of common stock $.33 $.28 $.87(A) $.63(C)
 Wtd. average common
 shrs. outstanding 74,538,000 76,135,000 74,537,000 76,417,000
 (A) -- Includes a $12.0 million charge associated with the
 settlement of the litigation involving the Sacramento cable
 television system. The charge reduced net income by $6.3 million
 ($.08 per share).
 (B) -- The company sold George R. Hall Company in March 1991.
 No gain or loss was realized on the sale.
 (C) -- Includes a $36.4 million charge associated with an agreement
 to terminate the Knoxville joint operating agency. The charge
 reduced net income by $23.7 million ($.31 per share).
 THE E.W. SCRIPPS COMPANY
 Unaudited Revenue and Statistical Summary
 Period: December; Report Date: Jan. 28, 1992
 December(A) Percent Year-to-Date Percent
 1991 1990 Change 1991 1990 Change
 Revenue (000,000s)
 Local $23.6 $25.2 (6.3) $234.7 $249.8 (6.0)
 Classified 11.4 12.2 (6.6) 165.6 177.0 (6.4)
 National 2.2 2.2 0.0 29.1 31.6 (7.9)
 Preprints 7.9 6.6 19.7 67.1 64.3 4.4
 Newspaper
 advertising 45.1 46.2 (2.4) 496.5 522.7 (5.0)
 Circulation 12.6 12.1 4.1 145.7 141.3 3.1
 Other publishing(B) 20.2 19.8 2.0 184.9 183.8 0.6
 Publishing 77.9 78.1 (0.3) 827.1 847.8 (2.4)
 Broadcasting(C) 22.0 18.6 18.3 245.5 235.6 4.2
 Cable Television 19.6 17.8 10.1 225.2 199.4 12.9
 Other -- 0.6 -- 1.8 13.8 --
 Consolidated 119.5 115.1 3.8 1,299.6 1,296.6 0.2
 Newspaper Ad Inches (000s)
 Local 945 1,034 (8.6) 9,425 10,488 (10.1)
 Classified 773 859 (10.0) 10,979 11,715 (6.3)
 National 45 51 (11.8) 621 698 (11.0)
 Full run ROP 1,783 1,944 (9.3) 21,025 22,901 (8.2)
 Part run ROP 86 88 (2.3) 1,095 1,216 (10.0)
 Total 1,849 2,032 (9.0) 22,120 24,117 (8.3)
 Cable TV Basic Subs (000s)
 Sacramento, Calif. 205.1 197.2
 Other systems 438.4 416.0
 Total 643.5 613.2
 (A) -- December 1991 had one more Tuesday and one less Saturday than
 December 1990.
 (B) -- Includes licensing, syndication, book publishing, share of
 profits of JOA newspapers not managed by the company, and commercial
 printing.
 (C) -- Includes television station WMAR (Baltimore) since May 30,
 1991. Year-to-date political advertising totalled $0.8 million in
 1991 and $8.8 million in 1990.
 -0- 1/28/92
 /CONTACT: Rich Boehne of The E.W. Scripps Company, 513-977-3826/
 (SSP) CO: The E.W. Scripps Company ST: Ohio IN: PUB ENT SU: ERN


LC -- CL005 -- 4079 01/28/92 09:13 EST
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