Meredith Corporation ( MDP)

F2Q11 Earnings Call

January 25, 2011 11:00 p.m. ET

Executives

Steve Lacy – Chairman, President and CEO

Joe Ceryanec – VP and CFO

Paul Karpowicz – President, Local Media Group

Tom Harty – President, National Media Group

Analysts

William Byrd - [L-com]

Jared Schram – Roth Capital Partners

Jason Bazinet – Citigroup

Michael Meltz – JPMorgan

Edward Atorino – The Benchmark Company

Michael Corty – Morningstar

Barry Lucas – Gabelli & Co

Presentation

Operator

Welcome to the Meredith Corporation reports fiscal 2011 second quarter results. [Operator Instructions.] I would now like to turn the conference over to Mike Lovell. Please go ahead sir.

Mike Lovell

Good morning and thanks everyone for joining us. We’ll begin the call this morning with comments from our chairman and chief executive officer Steve Lacy and our chief financial officer, Joe Ceryanec. Then we’ll turn the call over to questions. Also on the line this morning are Paul Karpowicz, president of our local media group, and Tom Harty, president of our national media group.

An archive of today’s discussion will be available later this afternoon on our investor website and a transcript will follow.

Let me remind you that our remarks today include forward-looking statements and that actual results may differ from forecasts. Some of the reasons why are described at the end of our press release issued earlier this morning and in some of our SEC filings.

And with that, Steve will begin the presentation.

Steve Lacy

Thank you Mike, and good morning everyone and once again, thank you for joining us. I'm pleased to report fiscal 2011 second quarter earnings per share of $0.88, a record high for Meredith in the second fiscal quarter. A year ago, our earnings per share were $0.49 before special items.

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