Gannett (GCI) Reports Q1 Earnings and March Stats

Gannett Co., Inc. (NYSE: GCI) reported today that 2008 first quarter earnings per diluted share from continuing operations were $0.77, in-line with estimates. (The results exclude a gain on the sale of land of $25.5 million ($15.8 million after tax) or $0.07 per diluted share) Revenues were $1.7 billion vs. $1.71 billion consensus.

Gannett also reported that total operating revenues for the third period ended March 30, 2008 declined 10.3% compared with the same period in 2007. Publishing advertising revenues in March were 12.8% lower compared with the same period a year ago. Retail advertising revenues declined 8.3% in March. Classified revenues were 18.0% lower in the third period in part reflecting the Easter switch. Broadcasting revenues, which include Captivate, were 8.0% lower. Television revenues were 8.3% lower in the period as local and national revenues declined 11.2% and 6.7% , respectively.

You May Also Be Interested In

• BJ's Wholesale Club (BJ) Tops Q2 EPS by 19c, Beats on Revenue; Offers FY27 EPS Guidance
• The Buckle (BKE) Tops Q2 EPS by 7c, Beats on Revenue
• Flowers Foods (FLO) Misses Q2 EPS by 3c; Offers Guidance