Meredith Corporation today reported fiscal 2016 first quarter results: * Earnings per share were $0.24, including special items related primarily to transaction expenses resulting from Meredith's merger agreement with Media General, Inc. * Excluding special items, earnings per share were $0.52. This compares to earnings per share of $0.65 in the prior-year period. Meredith recorded $11 million - or $0.15 of earnings per share - less of political advertising revenues in the first quarter of fiscal 2016 than in the prior-year period, as expected in an off-election year. * Total revenues rose 4 percent to $385 million.
As you’ve no doubt heard, President Trump is threatening to increase tariffs on Chinese imports from 10% to 25%, which will significantly impact all sellers of such goods, particularly small companies with limited resources to mitigate the impact. The tariff would cover nearly 6,000 products and parts, such as furniture, apparel, electronics, leather goods, hardware, domestics, bicycles, and plenty other items. If the trade war continues, expect the product listing to expand further to cover virtually 100% of Made in China goods.
Essentially, you have two options: Do nothing and pay the tariffs or file a duty exemption on your own, which without expert help to advise you is less likely to be approved. For ACMA members only, there is fortunately a third, far-more attractive option:
Through a special arrangement, ACMA is now offering members (only) an exclusive subscription service to help provide assistance in preparing, supporting and filing duty exemption requests.