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Gannett 4Q Profit Jumps 30% Amid Fewer Charges, Lower Costs

DOW JONES NEWSWIRES Gannett Inc.'s (GCI) fourth-quarter profit jumped 30% as revenue held up and the bottom line benefited from fewer charges and lower costs. The publisher of a host of newspapers, including USA Today, continued to benefit from cost cuts and revenue growth at its broadcast and digital operations. But most newspaper publishers continue to suffer as their audiences and advertisers migrate to the Internet and continued job-market woes weigh on consumers. To be sure, declines in print advertising have largely moderated from the year-over-year drops reported early last year. In the latest quarter, publishing advertising revenue slid 5.9% while circulation revenue dropped 4.1%. But the broadcasting segment saw revenue jump 27% while the digital business posted a 5.2% gain. Companywide, Gannett reported a profit of $174.1 million, or 72 cents a share, up from $133.6 million, or 56 cents, a year earlier. Excluding items such as facility consolidation and writedowns, earnings rose to 83 cents from 70 cents. Last month, Gannett said it expected to report earnings at the high end of the 72-cent to 82-cent range predicted by analysts. Revenue edged up 0.4% to $1.46 billion. Analysts were expecting $1.47 billion, according to a Thomson Reuters poll. Gross margin widened to 48.3% from 46.2%. Operating costs dropped 4.2%. Shares closed Friday at $15.19 and were inactive premarket. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Gannett (GCI)
DateTimeHeadline
03/26/201514:25:00CORRECTING and REPLACING USA TODAY and Gannett Announce U.S...
03/26/201511:00:00USA TODAY and Gannett Announce U.S. Jurors for 62nd Cannes Lions...
03/26/201504:00:00CareerBuilder Special Report Tracks the Changing Composition...
03/24/201510:45:00Gannett names William Janus president and publisher of The Daily...
03/24/201510:30:00Gannett names Joseph Calchi president and publisher of the Courier-Post...
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03/11/201518:24:25Gannett hires Sullivan from Scripps as programming chief
03/11/201515:50:00Gannett Broadcasting Names Bob Sullivan Senior Vice President...
03/11/201510:30:00Gannettâs KUSA Wins Two Walter Cronkite Awards for Excellence i...
03/09/201508:00:00Cars.com Analyzes Dealer Reviews to Uncover Common Shopper Pain...
03/06/201516:49:19Proxy Statement - Notice of Shareholders Meeting (preliminary...
03/05/201516:16:01Statement of Changes in Beneficial Ownership (4)
03/05/201505:00:00Erreurs commises durant l'entrevue par les postulants (sans même...
03/05/201505:00:00The Interview Mistakes Candidates Make (Without Even Realizing...

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