ValueVision Media rises on strong 4Q sales

ValueVision Media rises as strong home and beauty sales lift 4th-quarter revenue 20 percent

Associated Press

NEW YORK (AP) -- Shares of ValueVision Media Inc. jumped Thursday, a day after the owner of cable television retail channel ShopNBC reported a larger loss for the fourth quarter reflecting a large asset valuation charge. Its revenue rose 20 percent.

ValueVision said after the markets closed Wednesday that its home and beauty businesses did well and its consumer electronics unit recovered from a year earlier.

The Minneapolis company said it lost $11.4 million, or 23 cents per share, over the three months ended Feb. 2. It lost $8.3 million, or 17 cents per share, a year earlier.

The company recorded a non-cash charge of $11.1 million related to its Boston television license in the latest quarter.

Revenue rose to $177.5 million from $147.5 million.

For the year, ValueVision lost $27.7 million, or 57 cents per share, in 2012 after losing $48.1 million, or $1.03 per share, in 2011. Revenue rose 5 percent to $586.8 million from $558.4 million.

Its shares climbed 42 cents, or 15.4 percent, to $3.15 in afternoon trading after rising as high as $3.25 earlier in the session, the highest level since November 2011.

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