Dotdash Meredith Gives Up Iowa Tax Credits (mediapost.com)

Looking more closely at Meredith's fiscal 2018 third-quarter results compared to the prior-year quarter: •Meredith recorded pre-tax special items of $170 million, primarily comprised of restructuring, financing and transaction costs related to its acquisition of Time Inc. As a result, Meredith reported a loss from continuing operations of $95 million and a net loss of $110 million, compared to net earnings of $40 million. •Excluding special items, earnings from continuing operations were $33 million, compared to $40 million. (See Tables 1-5 for supplemental disclosures regarding non-GAAP financial measures.) •Adjusted EBITDA was $111 million, compared to $83 million. •Total company revenues from continuing operations were $649 million, compared to $425 million. Click Read More below for additional information.

The United States Postal Service reported new service delivery performance metrics for the first week of the fiscal second quarter showing service performance holding steady for First-Class Mail, Marketing Mail and Periodicals. Consistent with the rest of the shipping industry, the organization experienced some minor delays in both ground and air transportation during the week of January 1-7. The Postal Service continues to address impacts to last mile delivery due to availability challenges due to COVID-19 cases and inclement weather events including winter storms on the East Coast, Midwest and West Coast. Second quarter-to-date service performance scores covering the period Jan.1 through Jan. 7 included: *First-Class Mail: 90 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of .37 percentage points from the first quarter. *Marketing Mail: 91.7 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .46 percentage points from the first quarter. Periodicals: 81.1 percent of Periodicals delivered on time against the USPS service standard, with an improvement of .37 percentage points from the first quarter.

*Diluted loss per share of $(2.10) and Adjusted Diluted loss per share of $(2.03) *Reopened stores performing better than anticipated *E-commerce trend improved in May; curbside pickup performing well *Anticipate exiting Q2 in a clean inventory position - “The COVID-19 pandemic significantly impacted our first quarter sales and earnings results, but I am proud of the way our team navigated this difficult period and maintained the business while our stores were closed,” said Jeff Gennette, chairman and chief executive officer. “Our strong digital business sales trend continued throughout May, and it is encouraging to see that as we reopen a store, the digital business in that geography continues to be strong. By June 1, we had approximately 450 stores reopened, with the majority opened in their full format. Our reopened stores are performing better than anticipated. Importantly, we are receiving positive feedback on the curbside pickup experience and our efforts to create a safe and welcoming shopping environment."