Selected Quarterly Financial Data (unaudited)

12 Months Ended

Jun. 30, 2012

Selected Quarterly Financial Information [Abstract]

Selected Quarterly Financial Data (unaudited) [Text Block]

Selected Quarterly Financial Data (unaudited)

Year ended June 30, 2012	First Quarter			Second  Quarter			Third   Quarter			Fourth  Quarter			Total
(In thousands except per share data)
Revenues
National media	$	258,612		$	244,315		$	267,603		$	289,855		$	1,060,385
Local media	69,297			84,402			77,910			84,693			316,302
Total revenues	$	327,909		$	328,717		$	345,513		$	374,548		$	1,376,687
Operating profit
National media	$	36,004		$	35,797		$	23,330		$	37,889		$	133,020
Local media	11,057			27,156			22,654			27,424			88,291
Unallocated corporate	(8,840		)	(8,093		)	(7,684		)	(10,923		)	(35,540		)
Income from operations	$	38,221		$	54,860		$	38,300		$	54,390		$	185,771
Earnings from continuing operations	$	21,627		$	31,594		$	21,169		$	29,982		$	104,372
Discontinued operations	—			—			—			—			—
Net earnings	$	21,627		$	31,594		$	21,169		$	29,982		$	104,372
Basic earnings per share
Earnings from continuing operations	$	0.48		$	0.70		$	0.47		$	0.67		$	2.33
Net earnings	0.48			0.70			0.47			0.67			2.33
Diluted earnings per share
Earnings from continuing operations	0.48			0.70			0.47			0.67			2.31
Net earnings	0.48			0.70			0.47			0.67			2.31
Dividends per share	0.2550			0.3825			0.3825			0.3825			1.4025

In the third quarter of fiscal 2012, the Company recorded a pre-tax restructuring charge of $13.8 million. Partially offsetting these charges was a reversal of excess restructuring accrual previously recorded by the national media segment and a $1.0 million reduction in contingent consideration payable.

As a result of changes in shares outstanding during the year, the sum of the four quarters' earnings per share may not necessarily equal the earnings per share for the year.

Year ended June 30, 2011	First Quarter			Second  Quarter			Third   Quarter			Fourth  Quarter			Total
(In thousands except per share data)
Revenues
National media	$	266,715		$	268,483		$	267,886		$	275,138		$	1,078,222
Local media	76,025			97,450			70,995			77,788			322,258
Total revenues	$	342,740		$	365,933		$	338,881		$	352,926		$	1,400,480
Operating profit
National media	$	39,630		$	42,200		$	48,467		$	49,331		$	179,628
Local media	16,728			38,549			13,281			19,294			87,852
Unallocated corporate	(8,176		)	(10,236		)	(9,399		)	(14,378		)	(42,189		)
Income from operations	$	48,182		$	70,513		$	52,349		$	54,247		$	225,291
Earnings from continuing operations	$	26,062		$	41,097		$	31,176		$	33,275		$	131,610
Discontinued operations	(355		)	(540		)	(339		)	(2,944		)	(4,178		)
Net earnings	$	25,707		$	40,557		$	30,837		$	30,331		$	127,432
Basic earnings per share
Earnings from continuing operations	$	0.58		$	0.90		$	0.69		$	0.73		$	2.89
Net earnings	0.57			0.89			0.68			0.67			2.80
Diluted earnings per share
Earnings from continuing operations	0.57			0.89			0.68			0.73			2.87
Net earnings	0.56			0.88			0.67			0.66			2.78
Dividends per share	0.2300			0.2300			0.2550			0.2550			0.9700

In the fourth quarter of fiscal 2011, the Company recorded a pre-tax restructuring charge of $6.4 million for severance costs, other accruals of $0.1 million, and the write-down of certain identifiable intangibles of $0.9 million. Also in the fourth quarter, the Company recorded a reduction in contingent consideration payable of $6.3 million and $0.6 million in reversals of excess restructuring reserves accrued in prior fiscal years.

Additionally, during the fourth quarter of fiscal 2011, the Company announced the closing of the ReadyMade brand. In connection with this closing, the Company recorded a pre-tax write-down of various assets, primarily deferred subscription acquisition costs, of ReadyMade magazine of $4.2 million.

As a result of changes in shares outstanding during the year, the sum of the four quarters' earnings per share may not necessarily equal the earnings per share for the year.