Last $23.81 USD
Change Today -0.18 / -0.75%
Volume 97.9K
TIME On Other Exchanges
Symbol
Exchange
Berlin
New York
Mexico
As of 2:46 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

time inc (TIME) Key Developments

Time Inc. Appoints Brian Lew as Senior Vice President of Strategic Planning and Mergers & Acquisitions

Time Inc. named Brian Lew Senior Vice President of Strategic Planning and Mergers & Acquisitions. In this newly-created position, Lew will lead a team that will advise senior management on corporate strategy, acquisitions, investments, and partnerships as well as manage the process for transactions. Lew will report to Jeff Bairstow, Time Inc. Executive Vice President and Chief Financial Officer, and assume his new role on September 2nd. Lew joins the company from Time Warner Inc. These transactions included the acquisitions of Bleacher Report, Alloy Entertainment, and the broadcast rights to the NCAA Men's Basketball Tournament as well as investments in Central European Media Enterprises. In addition, he worked on initiatives to realign Time Warner's portfolio of businesses, including the spin-offs of Time Inc. and Time Warner Cable and Time Inc.'s divestiture of Time4 Media.

Time Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Goodwill Impairment for the Second Quarter Ended June 30, 2014; Updates Earnings Guidance for the Full Year of Fiscal 2014; Provides Revenue Guidance for the Third Quarter of 2014

Time Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company announced total revenues of $820 million compared to $833 million for the same period a year ago. Operating loss was $21 million compared to operating income of $124 million for the same period a year ago. Loss before income taxes was $33 million compared to income before income taxes of $121 million for the same period a year ago. Net loss was $32 million or $0.30 per basic and diluted share compared to net income of $75 million or $0.69 per basic and diluted share for the same period a year ago. OIBDA was $27 million compared to $154 million for the same period a year ago. Adjusted OIBDA was $113 million compared to $155 million for the same period a year ago. Cash provided by operations was $80 million compared to $119 million for the same period a year ago. Capital expenditures were $16 million compared to $6 million for the same period a year ago. Free cash flow was $64 million compared to $113 million for the same period a year ago. Adjusted net income was $33 million compared to $76 million for the same period a year ago. Adjusted diluted EPS was $0.30 compared to $0.70 for the same period a year ago. For the six months, the company announced total revenues of $1,565 million compared to $1,570 million for the same period a year ago. Operating loss was $141 million compared to operating income of $115 million for the same period a year ago. Loss before income taxes was $149 million compared to income before income taxes of $111 million for the same period a year ago. Net loss was $106 million or $0.98 per basic and diluted share compared to net income of $67 million or $0.62 per basic and diluted share for the same period a year ago. OLBDA was $50 million compared to OIBDA of $177 million for the same period a year ago. Adjusted OIBDA was $117 million compared to $231 million for the same period a year ago. Cash provided by operations was $80 million compared to $118 million for the same period a year ago. Capital expenditures were $23 million compared to $12 million for the same period a year ago. Free cash flow was $57 million compared to $106 million for the same period a year ago. Adjusted net income was $49 million compared to $103 million for the same period a year ago. Adjusted diluted EPS was $0.45 compared to $0.95 for the same period a year ago. For the second quarter ended June 30, 2014, the company announced goodwill impairment of $26 million. The company updated earnings guidance for the full year of fiscal 2014. The company is updating its 2014 outlook to reflect the impact of the wholesaler transition, the early relocation of the company’s corporate headquarters, and the sale of GEX. For the year 2014, the company expected to report operating income between $102 million and $130 million, depreciation between $100 million and $104 million, amortization as $78 million, OIBDA between $280 million and $312 million, adjusted OIBDA between $510 million and $547 million. The company currently expects full year revenues to be between $3.299 billion and $3.366 billion. Previously the company expects to report revenues between $3,354 million and $3,421 million and adjusted OIBDA between $545 million and $582 million. For the third quarter of 2014, total revenues are estimated to be up low-single digits year-on-year. The estimated revenue impact from the wholesaler transition is estimated at $3 million, with the quarterly impact of frequency issues and GEX each representing approximately $11 million in unfavorable comparisons for the quarter. Excluding the impact of AMG, CNNMoney, the wholesaler transition, frequency issues and GEX, revenues are likely to be down low single digits in third quarter.

Time Inc. Names Mark Ellis as Senior Vice President, Corporate Sales, Effective August 25, 2014

Time Inc. named Mark Ellis as Senior Vice President, Corporate Sales. In this newly-created role, Ellis will be responsible for developing and implementing an integrated sales strategy across the company's portfolio. He will also lead the company's corporate and digital sales teams and work to generate big, tent pole programs for advertisers and agencies. He will report to Mark Ford, Executive Vice President of Global Advertising Sales, and join the company on August 25th. With more than 20 years of experience in sales, marketing and digital media, Ellis has held senior executive roles leading digital companies, including AOL and Yahoo! Most recently, he spent three years at Yahoo! where he served as Vice President North American Sales.

Time Inc. to Report Q2, 2014 Results on Aug 05, 2014

Time Inc. announced that they will report Q2, 2014 results on Aug 05, 2014

Time Inc., Q2 2014 Earnings Call, Aug 05, 2014

Time Inc., Q2 2014 Earnings Call, Aug 05, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
TIME:US $23.81 USD -0.18

TIME Competitors

Market data is delayed at least 15 minutes.

Company Last Change
New York Times Co/The $12.41 USD +0.02
View Industry Companies
 

Industry Analysis

TIME

Industry Average

Valuation TIME Industry Range
Price/Earnings 93.4x
Price/Sales 0.8x
Price/Book 0.9x
Price/Cash Flow 29.4x
TEV/Sales 0.3x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact TIME INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.