Scripps Networks Interactive, Inc. Earnings Cheat Sheet: The Streak is Broken

S&P 500 (NYSE:SPY) component Scripps Networks Interactive, Inc. (NYSE:SNI) reported its results for the second quarter. Scripps Networks Interactive, Inc. is a media company operating as a lifestyle content and interactive services provider. The company’s two segments are Lifestyle Media and Interactive Services. Through these, it engages in national television networks, such as Food Network, and internet-based media outlets like Shopzilla.

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Scripps Networks Interactive Earnings Cheat Sheet for the Second Quarter

Results: Net income for the broadcasting company fell to $77.4 million (46 cents per share) vs. $106.2 million (63 cents per share) a year earlier. This is a decline of 27.1% from the year earlier quarter.

Revenue: Rose 11.5% to $534 million from the year earlier quarter.

Actual vs. Wall St. Expectations: SNI reported adjusted net income of 78 cents per share. By that measure, the company beat the mean estimate of 70 cents per share. Analysts were expecting revenue of $534.5 million.

Quoting Management: “The outstanding marketing power of Scripps Networks Interactive’s television and Internet brands is evident in the company’s solid second quarter financial results,” said Kenneth W. Lowe, chairman, president and chief executive officer. “HGTV, Food Network and Travel Channel – our fully distributed networks – consistently lead their respective content categories and genres on both TV and the Web, aggregating large and targeted audiences that are highly valued by media consumers, our advertising customers and distribution partners.”

Key Stats:

Last quarter’s profit decrease breaks a streak of four consecutive quarters of year-over-year profit increases. In the first quarter, net income rose 38.7% from the year earlier, while the figure increased 38.4% in the fourth quarter of the last fiscal year, 55.7% in the third quarter of the last fiscal year and 33.6% in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 14.2% to $536 million in the first quarter. The figure rose 33.3% in the fourth quarter of the last fiscal year from the year earlier and climbed 39.6% in the third quarter of the last fiscal year from the year-ago quarter.

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 62 cents versus a mean estimate of net income of 59 cents per share.

Competitors to Watch: Discovery Communications (NASDAQ:DISCA), Gannett Co., Inc. (NYSE:GCI), News Corporation (NASDAQ:NWSA), Lee Enterprises, Inc. (NYSE:LEE), Journal Communications, Inc. (NYSE:JRN), The New York Times Company (NYSE:NYT), The McClatchy Company (NYSE:MNI), Media General, Inc. (NYSE:MEG), The Walt Disney Company (NYSE:DIS), AOL (NYSE:AOL), Interactive Corp (NASDAQ:IACI), Pearson (NYSE:PSO), News Corp (NASDAQ:NWSA), McGraw-Hill (NYSE:MHP) and A. H. Belo Corporation (NYSE:AHC)

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(Source: Xignite Financials)

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