Meredith Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for Third Quarter of Fiscal 2017; Provides Earnings Guidance for the Year Ending June 30, 2017
For the six months, the company reported total revenues of $842,521,000 against $791,079,000 a year ago. Income from operations was $170,587,000 against $89,125,000 a year ago. Earnings before income taxes were $161,159,000 against $78,547,000 a year ago. Net earnings were $105,778,000 against $43,548,000 a year ago. Diluted earnings per share were $2.33 against $0.96 per share a year ago. Total EBITDA was $198,032,000 against $119,191,000 a year ago. Net cash provided by operating activities was $117,281,000 against $47,702,000 a year ago. Additions to property, plant, and equipment were $10,949,000 against $7,866,000 a year ago. Adjusted EBITDA was $188,105,000 against $113,110,000 a year ago.
For the year 2017, the company expects fiscal 2017 full-year earnings per share to range from $3.78 to $4.08. The company continues to expect fiscal 2017 full-year earnings per share to range from $3.50 to $3.80, as originally communicated on July 28, 2016.
The company expects fiscal 2017 third quarter earnings per share to range from $0.75 to $0.80, with total revenues for each of its Local and National Media Groups flat to down slightly.