Last $52.06 USD
Change Today -1.57 / -2.93%
Volume 455.5K
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As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

meredith corp (MDP) Key Developments

Meredith Corporation and FTD Companies, Inc. Renew Brand Licensing Agreement for Better Homes and Gardens Inspired Floral Arrangements

Meredith Corporation announced that it has agreed to a multi-year renewal of its licensing relationship with FTD Companies, Inc., for the Better Homes and Gardens brand. Meredith and FTD work together on the design of the collection, with the stylists and editors of Better Homes and Gardens providing trend inspiration and consumer insights to the process.

Meredith Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Provides Earnings Guidance for the Third Quarter of Fiscal Year 2015; Revises Earnings Guidance for the Fiscal Year 2015

Meredith Corporation reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported total revenues of $398.905 million against $354.048 million a year ago. Income from operations was $68.862 million against $51.901 million a year ago. Earnings before income taxes were $64.077 million against $49.346 million a year ago. Net earnings were $39.591 million against $30.569 million a year ago. Diluted earnings per share were $0.87 against $0.67 a year ago. Excluding special items income from operations was $78.319 million against $53.466 million a year ago. Excluding special items net earnings was $45.407 million or $1.00 per diluted share against $31.531 million or $0.69 per diluted share a year ago. Excluding special items earnings before income taxes was $73.534 million against $50.911 million a year ago. Excluding special items total EBITDA was $91.368 million against $65.056 million a year ago. Total EBITDA was $83.170 million against $63.491 million a year ago. For the six months. the company reported total revenues of $770.089 million against $710.500 million a year ago. Income from operations was $121.714 million against $94.709 million a year ago. Earnings before income taxes were $112.687 million against $89.441 million a year ago. Net earnings were $68.956 million against $54.610 million a year ago. Diluted earnings per share were $1.52 against $1.20 a year ago. Net cash provided by operating activities was $74.369 million against $60.687 million a year ago. Additions to property, plant and equipment were $11.855 was $11.272 million a year ago. Excluding special items income from operations was $78.319 million against $131.171 million a year ago. Excluding special items income from operations was $131.171 million against $96.274 million a year ago. Excluding special items net earnings was $74.772 million or $1.65 per diluted share against $55.572 million or $1.22 per diluted share a year ago. Excluding special items earnings before income taxes was $122.144 million against $91.006 million a year ago. Excluding special items total EBITDA was $156.989 million against $65.056 million a year ago. Total EBITDA was $148.791 million against $118.094 million a year ago. For the third quarter of fiscal year 2015, total company revenues are expected to be up high-single digits. The company expects fiscal 2015 third quarter earnings per share to range from $0.66 to $0.71. The company expects full year fiscal 2015 earnings per share before special charges to range from $3.25 to $3.35, an increase from the previous range established on July 31, 2014. The new and higher range reflects expected accretion of between $0.10 to $0.15 from the addition of the Martha Stewart media properties and the Shape brand to Meredith's National Media Group; and WALA in Mobile-Pensacola to Meredith's Local Media Group.

Meredith Eyes Acquisitions

Meredith Corporation (NYSE:MDP) intends to make acquisitions. "We continue to look for strategic acquisitions, partnerships and investment opportunities like these to expand our reach and create additional shareholder value," said Meredith’s Chief Development Officer, John Zieser.

The Meredith Local Media Group Names Mike Cukyne as Vice President and General Manager of its KCTV/KSMO Kansas City Market Duopoly

The Meredith Local Media Group announced that Mike Cukyne has been named Vice President and General Manager of its KCTV/KSMO Kansas City market duopoly. Cukyne has more than twenty years of broadcasting experience. He currently serves as Senior Vice President of Digital Media for Meredith's Local Media Group. He will keep those responsibilities in addition to running the Kansas City stations.

Meredith Corporation, Q2 2015 Earnings Call, Jan 28, 2015

Meredith Corporation, Q2 2015 Earnings Call, Jan 28, 2015

 

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Price/Cash Flow 10.8x
TEV/Sales 0.7x
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