Newspaper and TV company E.W. Scripps beat Wall Street Q4 profit estimates on Thursday…it had a loss of $603,000, down from a net profit of $91.3 million a year earlier. But the company said it took a $90.6 million non-cash, after-tax charge in the quarter on Shop At Home, which sells products to TV viewers. The company is “exploring strategic alternatives” for the division.
Excluding the charge, Q4 earnings per share were 54 cents, beating analyst estimates of 49 cents per share.
Revenue climbed by 17 percent to $707 million from $589.9 million.
On the online side: For Shopzilla, the online comparison shopping service acquired by Scripps in June 2005, Q4 profit was $20.3 million on revenue of $63.2 million. In Q4 2004 Shopzilla recorded $5.6 million of segment profit on $25.1 million of revenue. In Q1 2006, Shopzilla is expected to generate segment profit of about $10 million.
More in earnings release here.