Scripps Networks Swings to Q4 Profit

CINCINNATI: Scripps Networks Interactive has announced a Q4 profit of $94.4 million, as compared with the year-ago loss of $153.5 million, on revenues that increased 6 percent to $429.7 million.

At the company’s Lifestyle Media segment—including its cable networks, websites and related businesses—there was a 12-percent revenue gain to $380 million. Excluding the recently acquired Travel Channel, revenues gained 8.3 percent to $369 million. Affiliate fee revenue grew 16 percent to $81.3 million and advertising revenue was $281 million, up 6.8 percent. 

“Scripps Networks Interactive delivered a very solid fourth quarter with revenue growth that underscored the strength of our lifestyle television networks,” said Kenneth W. Lowe, the chairman, president and CEO of the company. “Strong advertising sales and double-digit growth in affiliate fee revenue at our Lifestyle Media businesses carried the day, offsetting lower revenues generated by our online comparison shopping businesses. The solid growth in ad sales during the quarter reflects an improving advertising environment and our ability to monetize the unprecedented viewership growth at our flagship networks.”