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Article: MEREDITH CORPORATION REPORTS GAIN IN FIRST QUARTER EARNINGS
- Article from:
- PR Newswire
- Article date:
- October 21, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DES MOINES, Iowa, Oct. 21 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) today reported a 54 percent gain in earnings before taxes for the fiscal 1994 first quarter ended Sept. 30, 1993. Earnings before taxes for the first quarter were $10,050,000, compared with $6,542,000 in the prior-year period. Improvements in the company's Broadcast and Magazine groups led to the increase in operating earnings. This improvement, however, was offset by a 10 cent per share negative impact of the federal income tax rate increase. After the impact of the increased tax rate, quarterly net earnings were $3,444,000, or 24 cents per share, compared with $3,441,000, or 22 cents per share, in ...