Gannett (GCI) Reports Decline in April Revenues
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Gannett Co., Inc. (NYSE: GCI) reported total operating revenues for the fourth period ended May 4, 2008 declined 7.7% compared with the same period in 2007. The exchange rate of the British pound was unchanged compared to last year and therefore did not have a meaningful impact on results.
Publishing advertising revenues in April were down 10.4% compared with April a year ago.
Retail advertising revenues were 6.1% lower in the fourth period. In the U.S., across all products, the decline was led by softness in the furniture, entertainment and telecommunications categories. The home improvement category was slightly positive in the period.
Classified revenues were 15.8% lower in the fourth period. Real estate revenues declined 23.8%, employment revenues were down 20.0% and automotive revenues were 13.2% lower.
National advertising revenues for the fourth period were 8.2% lower. At USA TODAY, advertising revenues were down 6.4% on paid ad pages of 335 versus 381 last year. In the fourth period at USA TODAY, strength in the travel, financial, automotive, restaurants and advocacy categories was offset by softness in the entertainment, technology, retail and telecommunications categories.
Broadcasting revenues, which include Captivate, were 4.3% lower. Television revenues were down 5.3% in the period as local and national revenues declined 3.2% and 13.7%, respectively. Based on results to date and current pacings, television revenues for the second quarter of 2008 would lag last year's second quarter in the mid to high single digits.[SM]
Publishing advertising revenues in April were down 10.4% compared with April a year ago.
Retail advertising revenues were 6.1% lower in the fourth period. In the U.S., across all products, the decline was led by softness in the furniture, entertainment and telecommunications categories. The home improvement category was slightly positive in the period.
Classified revenues were 15.8% lower in the fourth period. Real estate revenues declined 23.8%, employment revenues were down 20.0% and automotive revenues were 13.2% lower.
National advertising revenues for the fourth period were 8.2% lower. At USA TODAY, advertising revenues were down 6.4% on paid ad pages of 335 versus 381 last year. In the fourth period at USA TODAY, strength in the travel, financial, automotive, restaurants and advocacy categories was offset by softness in the entertainment, technology, retail and telecommunications categories.
Broadcasting revenues, which include Captivate, were 4.3% lower. Television revenues were down 5.3% in the period as local and national revenues declined 3.2% and 13.7%, respectively. Based on results to date and current pacings, television revenues for the second quarter of 2008 would lag last year's second quarter in the mid to high single digits.[SM]
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