E.W. Scripps Slips To Loss In Q1

(RTTNews) - Diversified media company E.W. Scripps Co. (SSP) reported Q1 net loss of $31.1 million or $0.37 per share versus a profit of $9.79 million or $0.10 per share last year.

Operating revenues for the quarter amounted to $527.8 million, compared to the previous year's $565.7 million.

Analysts polled by Thomson Reuters expected a loss of $0.38 per share on revenue of $528.42 million for the quarter. Analysts' estimate typically exclude certain special items.

The first-quarter results reflect contribution from inflation and consumer uncertainty to softness in the advertising marketplace.

On March 31, cash and cash equivalents totaled $16.5 million and total debt was $2.9 billion.