Meredith Corp. Announces 62% Retreat In Q1 Bottom Line

(RTTNews) - Meredith Corp. (MDP) reported a profit for first quarter that decreased compared to the same period last year.

The company said its bottom line dropped to $11.03 million, or $0.24 per share. This was down from $29.37 million, or $0.65 per share, in last year's first quarter.

Analysts had expected the company to earn $0.51 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.6% to $384.66 million. This was up from $371.18 million last year.

Meredith Corp. earnings at a glance:

-Earnings (Q1): $11.03 Mln. vs. $29.37 Mln. last year. -Earnings Decline (Y-o-Y): -62.4% -EPS (Q1): $0.24 vs. $0.65 last year. -EPS Decline (Y-o-Y): -63.1% -Analysts Estimate: $0.51 -Revenue (Q1): $384.66 Mln vs. $371.18 Mln last year. -Revenue Change (Y-o-Y): 3.6%

-Guidance: Next quarter EPS guidance: $0.75 - $0.80 Full year EPS guidance: $2.90 - $3.25