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BRIEF-Time Inc reports qtrly loss per share $0.29
May 10, 2017 / 10:09 AM / 6 months ago

BRIEF-Time Inc reports qtrly loss per share $0.29

May 10 (Reuters) - Time Inc:

* Time Inc reports first quarter 2017 results

* Time Inc - board of directors revises capital allocation strategy to enhance financial flexibility

* Q1 revenue fell 8 percent to $636 million

* Time Inc - reduces regular quarterly cash dividend to $0.04 per share

* Time Inc - plans to reduce leverage ratio toward lower end of 2.0x-2.5x target range of net debt to adjusted OIBDA

* Time Inc - qtrly adjusted loss per share $0.18

* Time Inc qtrly loss per share $0.29

* Time Inc- advertising revenues decreased $29 million or 8pct in Q1 of 2017 from year-earlier quarter to $331 million

* Time Inc - no longer intends to provide quarterly pacing or an annual revenue outlook

* Time Inc - on May 10, 2017, board of directors declared a dividend of $0.04 per common share

* Q1 earnings per share view $-0.15 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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