Meredith Q1 Profit Down; Backs FY EPS View - Quick Facts

(RTTNews) - Meredith Corp. (MDP) reported that its first-quarter net income decreased to $24.04 million or $0.53 per share, from $24.85 million or $0.55 per share, last year.

On average, 4 analysts polled by Thomson Reuters expected the company to report profit of $0.52 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues rose to $356.45 million from $354.16 million last year. Analysts expected revenue of $360.03 million for the quarter.

Looking at the second quarter of fiscal 2014, Meredith projects second quarter earnings per share to range from $0.65 to $0.70. Analysts expect the company to report second-quarter profit per share of $0.64.

Meredith continues to expect full year fiscal 2014 earnings per share between $2.60 and $2.95. Wall Street analysts estimate the company to report full year profit per share of $2.78.