McClatchy (MNI) Reports February Revenues
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The McClatchy Company (NYSE: MNI) reported that consolidated revenues in February 2008 decreased 11.7% and advertising revenues were down 13.3% compared to revenues in February 2007.
Pat Talamantes, McClatchy's chief financial officer, said, "We continue to see a majority of the decline in advertising revenue from newspapers in California and Florida, two states severely affected by the real estate downturn. We are heartened by the strong growth in online advertising, up 15.9% in February, as we continue to focus on our interactive operations."
Advertising revenue performance at the company's newspapers is summarized in McClatchy's statistical report that follows.[SM]
Pat Talamantes, McClatchy's chief financial officer, said, "We continue to see a majority of the decline in advertising revenue from newspapers in California and Florida, two states severely affected by the real estate downturn. We are heartened by the strong growth in online advertising, up 15.9% in February, as we continue to focus on our interactive operations."
Advertising revenue performance at the company's newspapers is summarized in McClatchy's statistical report that follows.[SM]
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