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 Jul. 26, 2012 Source: Meredith Corp. news release To read the entire report click here Meredith Corporation (NYSE: MDP;www.meredith.com), the leading media and marketing company serving American women, today reported fiscal 2012 fourth quarter revenues grew 6 percent to $375 million, and earnings per share grew 2 percent to $0.67, both from the prior-year period. Meredith achieved the following business highlights during the fourth quarter of fiscal 2012 when compared to the prior-year period: • Consumer engagement strengthened across all of Meredith's media platforms. Magazine readership rose to a record 116 million. Meredith's local television station group delivered a strong May ratings book. Also, total traffic to Company websites approximately doubled to an average of nearly 40 million unique visitors per month, a record high. • Local Media Group revenues grew 9 percent, driven by gains in both non-political and political advertising revenues. Operating profit rose 42 percent, which included a 2 percent decline in expenses, and produced a strong EBITDA margin of 40 percent. • National Media Group revenues grew 5 percent. Advertising revenues increased 12 percent, fueled by the recent acquisitions of the Allrecipes.com, EveryDay with Rachael Ray and FamilyFun brands. Absent the recent acquisitions, advertising revenues were down 3 percent. Circulation revenues increased 20 percent, and were up 5 percent excluding the recent acquisitions. • Total Company digital advertising revenues increased 95 percent, as National Media Group digital advertising revenues doubled, and Local Media Group digital advertising revenues increased more than 70 percent. "It was a solid quarter highlighted by the strengthening of important consumer touchpoints; continued excellent television advertising performance; and strong circulation metrics along with improving advertising in the National Media Group," said Meredith Chairman and CEO Stephen M. Lacy. Tweet |
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