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Meredith reports increase in revenues for fourth quarter


During the fourth quarter of fiscal 2012, which ended June 30, Meredith Corp. saw a 6 percent increase in revenues and a 2 percent increase in earnings per share from the prior year.

The company said in a release that revenues hit $375 million, while earnings per share reached 67 cents. Magazine readership rose to a record 116 million and total traffic to company websites doubled to an average of nearly 40 million unique visitors per month.

Additionally, total company digital advertising revenues increased 95 percent, with its national media group digital advertising revenues doubling and its local media group digital advertising revenues increasing more than 70 percent.

Advertising revenues increased 12 percent overall with the help of its recent acquisitions of the Allrecipes.com, EveryDay with Rachael Ray and FamilyFun brands.   

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