good... sooner they close their doors the better i like it!!! they are the only rags around here and they suck
Posted on 10/17/2011 12:51:33 PM PDT by abb
S&P 500 (NYSE:SPY) component Gannett Co. Inc. (NYSE:GCI) reported its results for the third quarter. Gannett is an international news and information company operating mainly in the realms of publishing, digital and broadcasting.
Results: Net income for the publisher fell to $99.8 million (41 cents per share) vs. $101.4 million (42 cents per share) a year earlier. This is a decline of 1.6% from the year earlier quarter.
Revenue: Fell 3.5% to $1.27 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: GCI reported adjusted net income of 44 cents per share. By that measure, the company fell short of mean estimate of 45 cents per share. Analysts were expecting revenue of $1.27 billion.
Quoting Management: Gracia Martore, president and chief executive officer, said, “All of our business segments continued to deliver consistent profitability in the third quarter. These results, amid continued market volatility, reflect the strength of Gannett’s iconic local and national brands and our relentless commitment to continuously enhancing the news, information and services we offer every day to the communities we serve. Importantly, digital revenues continued to show positive momentum in all of our business segments and were up 10 percent company-wide compared to last year, reflecting the success we are having in offering content and solutions across all platforms.” Martore continued, “We remain focused on aligning expenses with areas of opportunity, while leveraging our great brands, strong balance sheet and world-class talent to position Gannett for long-term revenue growth. I’m convinced we have the right strategy and team in place to continue to remake Gannett in the digital age.”
Key Stats:
Revenue has fallen in the past four quarters. Revenue declined 2.2% to $1.33 billion in the second quarter. The figure fell 5.4% in the first quarter from the year earlier and dropped 1.6% in the fourth quarter of the last fiscal year from the year-ago quarter.
The company has now seen net income fall in each of the last three quarters. In the second quarter, net income fell 22.5% from the year earlier, while the figure fell 22.8% in the first quarter.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 58 cents versus a mean estimate of net income of 57 cents per share.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 73 cents a share to 71 cents over the last sixty days. The average estimate for the fiscal year is $2.12 per share, down from $2.18 ninety days ago.
ping
Evil 90 year old mega Corporation losing money- is a good thing!
Evil 90 year old mega Corporation losing money- is a good thing!
http://www.nytimes.com/2011/10/17/technology/amazon-rewrites-the-rules-of-book-publishing.html?_r=1&ref=business&pagewanted=all
Amazon Signs Up Authors, Writing Publishers Out of Deal
http://www.mediapost.com/publications/article/160512/hulu-too-valuable-networks-wont-sell.html?edition=39261
Hulu Too Valuable, Networks Won’t Sell
http://news.yahoo.com/google-insists-newspapers-not-losing-internet-004831757.html
Google insists newspapers not losing out to Internet
http://www.washingtonpost.com/lifestyle/style/how-fox-news-changed-the-face-of-journalism/2011/10/07/gIQA9IiujL_story.html
How Fox News changed the face of journalism
http://gannettblog.blogspot.com/2011/10/urgent-earnings-rev-meet-wall-street.html
Urgent: Profit, revenue dip — but meet forecasts; investors pummel shares: GCI dives more than 7%
good.
G’net.
good... sooner they close their doors the better i like it!!! they are the only rags around here and they suck
If they’d go back to who what when and where and stopped being politically selective, maybe they would see an immense return on their buck! Of course I don’t know if they teach real journalism anymore. What we have now is pure Pravda!
Apparently,NOBODY is reading the”PROPOGANDA”anymore(nor advertising it)???????????????
Our local rag sheet is a Gannet paper and has deteriorated to the point where there is not enough content in the daily paper to make a liner for the cat box.
The (Monroe, LA) News-Star’s Monday edition, when tightly rolled up for delivery is about the diameter of one’s thumb...
A couple of weeks ago, my wife had a mini vacation on the coast. We have been staying at the same lodge for years.
As I was checking in, the head clerk said “You still don’t want USA Today and want a refund for not getting it?”
I replied that was true as long as they were in business printing their left wing lies.
She smiled and said “We will give you a free WSJ during your stay!”
I thought that the hotels got USA for free....to distribute to their guests...
This totally eliminates the need for printing, shipping, and storing books, as well as the bane of publishers..remainders.....few peopel don't realzie than any books not sold can be returned to the publisher...
You will see prices come down...resulting in MORE sales...and, yes, a greater revenue to writers..
“I thought that the hotels got USA for free....to distribute to their guests...”
I don’t know what the financial arrangements between hotels/lodges/motels and USA today is, most of them out here charge guests anywhere from a $ to 50 cents for each USALIESTODAY.
About a decade ago, I started cancelling the USALIESTODAY when I checked in. Without asking some of the clerks at the desk said fine and said that I would receive a small credit for not taking it.
After a few of those comments, it is standard for me to ask for a refund for not taking USALIESTODAY.
About 5 years ago if the hosts didn’t have Fox News, on checkout, I would say that I wasn’t returning until Fox News was available, and I sent an email restating that to the management when I got home. Most got Fox News and got back to me.
Abb has more on this little arrangement between those who own/operate lodging and USALIESTODAY.
“What we have now is pure Pravda!”
Pravda at least critcizes Obozo re his financial mistakes.
During the 80’s and 90’s whenever I was travelling on business, all the hotels I ever stayed in provided a USAT at your door everymorning..no charge...I was told once by a manager that they were given to the hotel by Gannett..
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