Scripps Networks Interactive Inc. Declares Quarterly Dividend, Payable on Dec. 10, 2015
Nov 12 15
The board of directors of Scripps Networks Interactive Inc. has declared a quarterly dividend of 23 cents ($0.23) per share payable on Dec. 10, 2015, to shareholders of record at the close of business on Nov. 30, 2015.
Scripps Networks Interactive, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Revises Earnings Guidance for the Full Year 2015
Nov 9 15
Scripps Networks Interactive, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported operating revenues of $776,122,000 compared with $644,423,000 for the same period a year ago. Operating income was $270,996,000 compared with $238,794,000 for the same period a year ago. Income from operations before income taxes was $238,443,000 compared with $246,211,000 for the same period a year ago. Net income attributable to the company was $124,559,000 or $0.96 per basic and diluted share compared with $131,339,000 or $0.93 per basic and diluted share for the same period a year ago. Free cash flow was $239,203,000 against $224,867,000 a year ago. Total company revenue was up 20% due to the consolidation of TVN coupled with better-than-expected advertising and affiliate fee growth. Excluding the restructuring, TVN transaction and integration costs as well as foreign currency effects on TVN funds, earnings per share would have been $1.06, up 14% compared with the prior year third quarter.
For the nine months, the company reported operating revenues of $2,166,474,000 compared with $1,996,304,000 for the same period a year ago. Operating income was $828,841,000 compared with $761,851,000 for the same period a year ago. Income from operations before income taxes was $842,256,000 compared with $793,934,000 for the same period a year ago. Net income attributable to the company was $442,120,000 or $3.39 per diluted share compared with $413,429,000 or $2.88 per diluted share for the same period a year ago. Cash provided by operating activities was $658,520,000 compared with $580,178,000 for the same period a year ago. Additions to property and equipment were $32,091,000 compared with $41,784,000 for the same period a year ago. Free cash flow was $471,481,000 against $343,538,000 a year ago.
The company revises earnings guidance for the year 2015. As a result of its strong performance in the third quarter, coupled with advertising strength continuing into the fourth quarter, the company now expects its revenue growth to be approximately 13%, up from previously issued 12%. Additionally, due to purchase accounting adjustments related to the TVN acquisition, the company now expects depreciation and amortization to be $145 million. And finally, as a result of its 100% ownership of TVN, the company now expects interest expense to be approximately $110 million for the year 2015.
Scripps Networks Interactive Eyes Acquisitions
Nov 9 15
Scripps Networks Interactive, Inc. (NYSE:SNI) intends to make acquisitions. Lori Hickok, Chief Financial Officer of the company said: “I'll start with your capital allocation question. Of course, we always think share buybacks are a good vehicle. But as we said on the prepared remarks, our focus right now really is on putting that money to work on organic growth, as well as international and US acquisitions. Again, I would say we look opportunistically at both international and digital. Right now the valuations are probably a little high on the digital, so harder to execute on that front. And then of course, we are de-levering to really give us fire power to look at all of our options and how we return capital to shareholders, as well as continue to invest organically and look for opportunistic acquisitions.”
Scripps Networks Interactive Promotes Simone Nardi to Managing Director of Finance and Operations for Scripps Networks' International Division
Oct 30 15
Scripps Networks Interactive has promoted Simone Nardi to managing director, finance and operations for Scripps Networks' international division. Based in New York, Nardi will continue to report to Jim Samples, President, International. Nardi, who joined the company in 2013 as the international CFO, has played a vital role in the company's international expansion. Before joining Scripps Networks, Nardi served as a SVP and CFO for NBC Universal's international channels and television production operations where he developed and managed the financial, strategic, and operational structure of the division.
Scripps Networks Interactive, Inc. Appoints Dylan Jones as Executive Vice President and Chief Communications Officer
Oct 27 15
Scripps Networks Interactive, Inc. named Dylan Jones as Executive Vice President and Chief Communications officer to oversee global strategic messaging for the company. He previously has been serving as Senior Vice President of Corporate Communications. In his expanded role, Jones will have direct management and oversight responsibilities for the company’s public and media relations, investor relations, internal communications, creative services, customer service and event marketing functions. Jones joined Scripps Networks in August 2014. He previously had led global communications and marketing as a member of the senior management team for EMI Group.