This story was written by Rafat Ali.
Scripps Networks Interactive (NYSE: SNI), the TV and lifestyle media conglom, has reported its Q209 earnings, and its revenues were down slightly, but net income was up comparatively due to a spinoff charge last year. For Q209, it had revenues of $391 million, down 3.7 percent; net income was $79.5 million, compared with $53.3 million in Q208 (which has a charge of $26.4 million related to its spin-off from The E. W. Scripps Company).
On interactive side, whch includes its comparison shopping site Shopzilla and BizRate, the numbers weren’t stellar. Revs were $40.8 million compared with $57.2 million in Q208. Profit was $7.3 million compared to $12.9 million in Q208. It keeps harping on Shopzilla’s repositioning, something it has been doing for a year now. Also, it said Shopzillas results were held back by continued weak consumer demand for retail products and the effects of a less-favorable sponsored-link revenue sharing agreement with Google. Its UK utility comparison site uSwitch, which it announced for sale last quarter, still doesn’t have a buyer.
By Rafat Ali