Scripps Networks tops 4Q net income expectations, misses revenue forecasts

MarketsAssociated Press

Scripps Networks Interactive Inc. (SNI) on Thursday reported fourth-quarter net income of $131.8 million.

The Cincinnati-based company said it had profit of 96 cents per share. Earnings, adjusted for restructuring costs, came to $1.02 per share.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The owner of cable channels HGTV, Food Network and Travel Channel posted revenue of $669.2 million in the period, which missed Street forecasts. Analysts expected $683.4 million, according to Zacks.

For the year, the company reported profit of $545.3 million, or $3.83 per share. Revenue was reported as $2.67 billion.

Scripps Networks shares have dropped 2 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped roughly 3 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNI at http://www.zacks.com/ap/SNI

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Keywords: Scripps Networks, Earnings Report