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SCRIPPS HOWARD BROADCASTING ANNOUNCES FIRST QUARTER EARNINGS

 SCRIPPS HOWARD BROADCASTING ANNOUNCES FIRST QUARTER EARNINGS
 CINCINNATI, April 15 /PRNewswire/ -- Scripps Howard Broadcasting Company (NASDAQ: SCRP) today reported first quarter net income of $3.7 million, 36 cents per share, versus $4.1 million, 40 cents per share, in 1991, excluding an unusual charge from the year-ago quarter.
 The $12 million pre-tax charge was related to the settlement of litigation involving the company's Sacramento cable television system. It reduced the year-ago quarter's net income by $7.9 million, 77 cents per share.
 The decline in first quarter 1992 net income, excluding the charge, was the result of increased interest expense associated with the May 1991 acquisition of television station WMAR.
 Operating income increased 8.5 percent to $12.5 million, excluding the charge. Revenues increased 15.6 percent to $85.9 million.
 Television and radio results
 Operating income rose 4.5 percent to $9.3 million, but was negatively affected by an increase in amortization from television station WMAR, which was acquired in May 1991. Total depreciation and amortization increased $2 million, to $5.3 million.
 Revenues increased 19.3 percent to $58.7 million, the result of the addition of WMAR and improved revenues at most of the broadcast stations.
 Cable television results
 Excluding the $12 million Sacramento charge, operating income advanced 22 percent to $4.4 million.
 Cable revenues increased 8.5 percent to $27.1 million. New subscribers totaled 4,000 in the quarter and 10,500 in the last 12 months for a total of 279,100 at March 31.
 Scripps Howard Broadcasting, an 80.4 percent-owned subsidiary of The E.W. Scripps Company (NYSE: SSP) operates 10 television stations, five radio stations and cable television systems with 279,100 basic subscribers.
 Scripps Howard Broadcasting Company
 Three months ending March 31
 1992 1991
 (in thousands, except per share data)
 Operating Revenues:
 Broadcasting $ 58,737 $ 49,253
 Cable television 27,134 24,999
 Total operating revenues $ 85,871 $ 74,252
 Operating income (loss):
 Broadcasting 9,295 8,894
 Cable television 4,423 (8,371)(A)
 Corporate (1,180) (970)
 Total operating income (loss) 12,538 (447)
 Interest expense (5,911) (4,155)
 Miscellaneous, net (10) 14
 Credit (provision) for income taxes (2,914) 745
 Net Income (loss) $ 3,703 $ (3,843)(A)
 Net income (loss) per share of
 common stock $ .36 $ (.37)(A)
 Weighted average shares
 outstanding 10,326,000 10,328,000
 (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 $7.9 million ($.77 per share).
 -0- 4/15/92
 /CONTACT: Rich Boehne of Scripps Howard Broadcasting, 513-977-3826/
 (SCRP) CO: Scripps Howard Broadcasting Company ST: Ohio IN: ENT SU: ERN


KK -- CL015 -- 8914 04/15/92 16:35 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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