Meredith Corp. (MDP) reported solid growth in both earnings and revenues for its fourth-quarter 2010 and full-year results.
Ad revenue was up seven percent from the prior year, to $202 million for the quarter, while total revenue grew to $365 million.
Earnings for the quarter totaled $33.4 million.
Even Meredith’s magazine segment, including Better Homes & Gardens, Parents, Ladies’ Home Journal, Family Circle, and so forth, saw a slight increase over the year: revenues rose 2 percent to $288 million and profit remained steady at $46 million. For the full year, the magazine segment increased profits 11 percent.
“The combination of enhanced sales and marketing strategies, business re-engineering and careful control of expenses all contributed to National Media Group 11 percent operating profit growth,” said Meredith Chairman and Chief Executive Officer Stephen M. Lacy in a statement. “We also strengthened our connection to the consumer, delivered market share gains and made investments in new digital media platforms.”