Shares of the
Scripps reported net income of
The decline in earnings reflected various one-time expenses, including a
Operating revenues for the fourth quarter rose 8 .2 percent to
Analysts were expecting earnings of
Scripps executives had a positive take on the recently ended quarter and were optimistic about revenue growth for current year in a conference call with analysts.
"We're coming off another great quarter driven by our ability to attract an engaged, upscale audience with our unique lifestyle content," Scripps Chairman, President and CEO
Advertising revenue and viewership were both up in the fourth quarter, a trend that should continue in 2014, Lowe said.
Increases in affiliate revenue and "growing contributions from our international business" should also boost the current year's results, Lowe said.
He noted that the company's Travel Channel audience in the
Shareholder value will also be increased this year through an enhanced share buyback program and increased dividend, Lowe said. Scripps announced Thursday that its board had authorized spending an additional
For the current year, the company expects 6-8 percent revenue growth, said
"So far in the first quarter the advertising market has strengthened a bit and our advertising partners tone is positive about 2014," Hickok said.
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