Media General Slips To Loss In Q1 - Quick Facts

(RTTNews) - Media General, Inc. (MEG) reported first-quarter net loss attributable to the company of $7.43 million or $0.06 per share, compared to net income of $5.39 million or $0.06 per share in the year-ago quarter.

On average, four analysts polled by Thomson Reuters expected the company to report net loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Net operating revenue for the quarter more than doubled to $296.73 million from $143.92 million in the same quarter last year. Analysts expected revenues for the quarter of $300.07 million.

Media General completed its merger with LIN Media on December 19, 2014. As a result, its prior-year period financial results do not include LIN Media's results.

Looking ahead to the second quarter, the company expects net revenues for the second quarter on a supplemental combined company basis will increase 1 to 4 percent to a range of $321 million to $330 million, compared to net revenues of $318 million in year-ago period, primarily as a result of higher pay-TV subscriber fees. The Street expects the company to report revenues of $335.03 million.