logo
  Join        Login             Stock Quote

Meredith (MDP) To Take Special Charge In Q2; Reaffirms Profit View

 January 18, 2013 04:15 PM
 


(By Balaseshan) Meredith Corp. (NYSE: MDP), a media and marketing company, said it will take a special charge of $7 million in its second quarter, related to business realignments and selected workforce reductions.

For the second quarter, the company reaffirmed its earnings guidance of $0.85 to $0.90 per share, excluding the special charge, while Street analysts predict $0.87 per share.

For the full-year 2013, Meredith continues to expect earnings of $2.60 to $2.95 per share, excluding the special charge, while Street analysts predict $2.80 per share.

Meredith said it has "aggressively scaled its capabilities" to deliver content over multiple platforms to meet increased consumer demand and growing client requests for multi-platform advertising and marketing programs in the past year.

[Related -6 Stocks With A Sustainable Dividend]

As a result, Meredith has added or created about 300 jobs to support key strategic growth initiatives including the: acquisition of Allrecipes.com, doubling Meredith's digital presence; addition of the EveryDay with Rachael Ray and FamilyFun brands, among others.

Meredith will update progress on its strategic growth initiatives, as well as its earnings outlook, when it releases second quarter earnings on January 24.

MDP is trading down 1.19% at $34.02 on Friday. The stock has been trading between $26.89 and $37.84 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageWill The Sluggish US Housing Market Perk Up This Year?

Housing remains a weak spot for the US economy, as suggested by yesterday’s news of a bigger-than-expected read on...

article imageThe Only Homebuilders To Own Right Now

Now is the time to invest in the housing market, but you must be read on...

article imageUS Economic Growth Slows in Q4

US GDP growth fell short of expectations in last year’s fourth quarter, the government reports. National read on...

article imageReversals After a Gap on the Open Could Mean Anything

Yesterday stock indexes gapped up on the open but then reversed course to close sharply lower. This type of read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.