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NEW YORK (AFX) - Media company Meredith Corp., a publisher of magazines such as Better Homes and Gardens and Ladies' Home Journal, said Tuesday it expects earnings of 96 cents per share for its fiscal fourth quarter, which ends in June.
A year ago, the company earned 83 cents per share.
Analysts, on average, are looking for earnings of 96 cents per share on sales of $426.8 million, according to a poll by Thomson Financial.
The Des Moines-based company, which also owns 14 TV stations, forecast full-year earnings of $2.86 per share, up from $2.50 per share in the previous year. The company's outlook is in line with consensus estimates.
Meredith said it has grown advertising revenue in the mid-single digit range on average on a yearly basis, despite quarterly and monthly fluctuations. At Better Homes and Gardens, which has a circulation of more than 7 million, early 2006 advertising has not met the company's expectations, Meredith said.
Shares fell 38 cents to $48.29 on the New York Stock Exchange. Copyright 2006 Associated Press. All rights reserved. This material may not be
Copyright 2006 AFX News Limited. All Rights Reserved.
