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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
04/16/201511:15:00David Chivers named president and publisher of The Des Moines...
04/16/201509:00:00Gannett partners with ViewLift to offer digital sports and entertainment...
04/16/201509:00:00Cars.com Lists U.S. Cities with Greenest Car Shoppers for Earth...
04/16/201504:00:00High-paying non-desk jobs don't always require a four-year degree...
04/13/201511:00:002015 GMC Canyon Wins Cars.com Midsize Pickup Truck Challenge
04/09/201513:37:07Current Report Filing (8-k)
04/09/201505:00:001 in 5 Employers Have Unknowingly Asked an Illegal Interview...
04/06/201512:29:02Gannett down more than 3% on FBR downgrade
04/06/201512:20:00Gannett to webcast first-quarter 2015 earnings conference call...
04/03/201506:01:02A Coast-To-Coast Newspaper Shuffle Is Taking Shape
04/02/201505:00:00Thirty-two Percent of Employers Plan to Hire Full-Time, Permanent...
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...
03/24/201506:00:00Cars.com Experts List the Top 10 Most Annoying Car Features
03/16/201503:00:00CareerBuilder Analysis Finds Easiest Places to Get a Drink in...
03/12/201509:15:00Cetera Financial Institutions Introduces Talent Network, its...
03/12/201509:00:00Gannett Announces Filing of Form 10 Registration Statement for...

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