Meredith Corp. Reports Almost 50% Drop In Earnings
Meredith Corp.’s fiscal Q3 2009 earnings dropped almost 50% and the company’s revenue fell by $54 million, the publisher and broadcaster reported today. Its earnings this quarter of $25 million, or $.56 per share, were far lower than earnings of $45 million, or $.97 per share, during the same period last year, but were within investor expectations.
The company’s publishing division, which houses Better Homes and Gardens, Parents, Ladies’ Home Journal, Family Circle and more, reported profits of $48 million, a 25 percent decrease from its Q3 2008 profitability.
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