Earnings: Shop At Home-less Scripps Net Down 27 Percent In 2Q06; Interactive Strong

Interactive revenue was pumped up by strong performances from Shopzilla and uSwitch but E. W. Scripps Co. (SSP) took a hit during 2Q06 from the shut-down of Shop At Home as well as a change in expensing stock options. The result: profit dropped nearly 27 percent to $71.1 million, or $0.43, from $97.6 million, or $0.59 the previous year. Sand charges, earnings from continuous operations would have been $105 million or $0.64 a share, on revenue of $642 million, up from $103 million, or $0.62 in 2Q06. Via MKTW, the Thomson First Call estimate was 60 cents per share on revenue of $657.2 million.
The interactive media division, which includes Shopzilla and uSwitch, turned a 2Q06 profit of $16.5 million on $65 million in revenue. If Scripps had owned Shopzilla and uSwitch since Jan. 1, 2005, revenue would have nearly doubled.
Earnings| Webcast (replay)

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