Business News

Scripps Files 2008 Form 10-K, Reports Final Fourth-Quarter and Full-Year Results

Tuesday 03. March 2009 - The E.W. Scripps Company (NYSE:SSP) today filed with the Securities and Exchange Commission its annual Form 10-K for the year ending Dec. 31, 2008. The filing includes final operating results for the fourth quarter and full year 2008, as shown on the last page of this press release.

When the company reported fourth-quarter earnings on Feb. 19, 2008, it still was in the process of finalizing the allocation of its provision for income taxes for 2008 and 2007 between its continuing and discontinued operations.

The company reported a loss from continuing operations for the fourth quarter of $11.5 million, or 21 cents per share. Income from continuing operations for the fourth quarter of 2007 was $40.4 million, or 74 cents per share. Contributing to the loss from continuing operations in the 2008 quarter were charges totaling $41.9 million for impairment of goodwill, indefinite and long-lived assets, and the write-down of investment in the Colorado newspaper partnership.

For the full year, the company’s loss from continuing operations, including non-cash charges of $941 million for the impairment of goodwill and the write-down of certain equity investments in the company’s newspaper segment, was $632 million, or $11.69 per share, compared with income from continuing operations of $68.6 million, or $1.26 per share, in 2007.