Meredith swings to loss on writedown
Posted: Wednesday, 9 September 2009 - 4:04pm
The publisher of Family Circle and Better Homes and Gardens said it expected the recession to hurt advertising sales in its 2010 fiscal year, which began on July 1, even as ad performance at its magazines improved in the second half of fiscal 2009.Meredith's net loss was $163.7 million, or $3.64 a share, in the fiscal fourth quarter ended June 30, compared with a profit of $19.2 million, or 41 cents a share, a year earlier.More ...

