The E.W. Scripps Company (SSP) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $1.94 million, or $ 0.02 a share in the quarter, against a net profit of $4.89 million, or $0.06 a share in the last year period. Revenue during the quarter went up marginally by 0.72 percent to $211 million from $209.50 million in the previous year period. Total expenses were 99.29 percent of quarterly revenues, up from 94.12 percent for the same period last year. That has resulted in a contraction of 517 basis points in operating margin to 0.71 percent.
Operating income for the quarter was $1.49 million, compared with $12.31 million in the previous year period.
Commenting on the first-quarter results, Scripps chairman, president and chief executive officer Rich Boehne said: “The first quarter following a presidential election is often the lightest in the four-year cycle that drives our broadcast TV business. Nevertheless, we built advertising revenue as the quarter progressed, and now we’re on to partnering with local advertisers as they refine or recast their businesses.
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