E.W. Scripps Posts Profit In Q1

(RTTNews) - The E.W. Scripps Company (SSP) reported first-quarter income per share from continuing operations of $0.10 compared to a loss of $0.10, prior year. Income from continuing operations, net of tax, increased to $22.37 million from $3.50 million.

Total revenue was $566 million, an increase of 4.6% from the prior-year quarter. The company said its revenues benefited from higher core, political and retransmission revenue in Local Media division and overall growth in Scripps Networks operations.

The company said it is on track to deliver free cash flow of $400-$450 million for the full year, aided by a projected $270 million of political advertising revenue, which would be an increase of about 40% from the last mid-term election year, 2018.