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Article: Meredith Corporation reports second-quarter earnings.
- Article from:
- PR Newswire
- Article date:
- January 24, 1990
CopyrightCOPYRIGHT 1990 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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MEREDITH CORPORATION REPORTS SECOND-QUARTER EARNINGS
DES MOINES, Iowa, Jan. 24 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) today announced second quarter earnings of $9,451,000, or 51 cents per share, down from $10,387,000, or 54 cents per share, a year ago.
Revenues for the quarter ended Dec. 31 improved to $211,917,000 because of higher ad pages and ad rates in magazine operations and acquisitions in the book direct mail operation. Revenues were $195,853,000 for the same period a year earlier.
"While earnings improved significantly in magazine operations, profits declined in our other businesses, said Jack D. Rehm, president and ...