Scripps Networks Q3 Profit Beats Estimates

(RTTNews) - Lifestyle media company Scripps Networks Interactive, Inc. (SNI) posted higher third-quarter net income attributable to company of $129 million, or $0.87 per share, compared with $118 million, or $0.78 per share, in the 2012 period. On average, 20 analysts polled by Thomson Reuters expected earnings per share of $0.84 for the quarter. Analysts' estimates typically exclude one-time items.

Consolidated revenues for the quarter rose 9.0 percent to $617 million, from $566.19 million in the prior-year period. Analysts estimated revenues of $619.09 million for the quarter. The company said the latest results reflect advertising revenue of $410 million, up 8.7 percent, and affiliate fee revenue of $191 million, up 9.0 percent year-on-year.

The company said in a statement, "Scripps Networks Interactive delivered another strong quarter of growth during the third quarter, driven by the tremendous popularity of our lifestyle television networks," said Kenneth W. Lowe, chairman, president and chief executive officer."