McClatchy 1Q Profit Falls 14 Percent (Dinosaur Media Extinction Alert)

Associated Press ^ | April 13, 2006 | Staff

[abb]

McClatchy 1Q Profit Falls 14 Percent As Automotive, National Advertising Declines

SACRAMENTO, Calif. (AP) -- Newspaper publisher McClatchy Co. said Thursday its first-quarter earnings fell 14 percent, as automotive and national advertising declined and the company began expensing stock options.

Earnings fell to $27.7 million, or 59 cents per share, down from $32.3 million, or 69 cents per share. Revenue edged up less than 1 percent to $282 million from $280.9 million.

Without stock-option expensing, McClatchy said it would have earned 62 cents per share. Analysts were looking for earnings of 67 cents per share -- after stock-option costs -- on revenue of $285.8 million, according to Thomson Financial.

"We faced our toughest comparison in quarter-over-quarter advertising revenue growth," Chief Executive Gary Pruitt said in a statement.

Looking to the second quarter, Pruitt said the company doesn't see any change in the sluggish automotive advertising category, and national advertising "remains upredictable." Real estate advertising, however, is expected to stay solid.

[Ernest_at_the_Beach]

Gotta love it.

And Allegra say it's quiet in Baghdad so AP is reworking yesterday's headline:

Al-Qaida No. 2 Says 'Enemy' Is Faltering ~ reworked AP Headline

Got to keep inducing the sheeple to buy the Newspapers.....

[Clovis_Skeptic]

Great News....I heard on Rush this a.m. he was reading a list of losses for various msm outlets....reaping what they been sowing!

[Grampa Dave]

McClatchy lost over 4% of its stock market price yesterday on this news. That was somewhere close to a 100 million $ loss in capital value for these lying bastards during a single market day.

[Grampa Dave]

AP is the worse of the worse.

AP is a non profit cooperative funded by the left wing fishwraps.

So the worse liars, homosexuals pretending to be journalists and of course the biggest haters of our president get a pay check form AP.

[abb]

Up early today, Dave. See today's NYT story here:

http://www.freerepublic.com/focus/f-news/1614893/posts

[Grampa Dave]

My wife wore me down with the Honey Do lists, so I was in bed and asleep by 9 pm last night. Getting up at 4 meant 7 hours sleep which is more than enough for this old man.

[Grampa Dave]

When I got off line yesterday at about 3:30 pm, the McClatchy stock was down over 4%. It closed magically in 30 minutes with "only a 2% drop" in stock value.

Look at the volume of buys in the last few minutes, over 150 thousand shares were purchased to drive up the value of the stock.

I guess the buyers are hoping no one will remember the drop after the 3 day Easter/Good Friday Weekend.

This appears to more Enroning of this stock by the elite owners and managers of mutual funds. Hopefully this will not work next week when reality comes back.

Of course I love it when liberals and liberal controlled organizations throw their money into financial black holes to save a liberal icon.

[Ernest_at_the_Beach]

best sign yet that the bottom has finally arrived.

ROFL!

[abb]

Just to let our ping list know that the starving dinosaurs read our bulletin board. This was freepmailed to me just now...

Re: McClatchy 1Q Profit Falls 14 Percent (Dinosaur Media Extinction Alert)
From Nandog | 05/09/2006 7:44:04 PM CDT read

I know that this post was over a month old, but truth has no time limit. As a recently departed employee of McClatchy, I would like to set the record straight. The employees 401K are not tied to the companies stock.ala Enron. The funds are invested in mutual funds that are managed by some of Wall Street's most prominent and sucessful houses. So their employees are not despondent over the drop in stock prices as it relates to their 401K, because there is no relation. For the employees who hold shares of MNI, well that may be another story. Anyway, my advice to you is: Check before you speak, unless you don't really care that what you speak is the truth, ala dope addict, plea barginer Rush Limbaugh!

Nandog, Member since 5/10/2006

[Miss Marple]

Ha! Well, isn't THAT interesting? I wonder if that's true, or if it's someone trying to deflect interest in their 401k fund.

[abb]

Using Occam's Razor, I think it's exactly what it seems. The DBM know who we are. Probably many of them lurk here. And with all the stories we've been posting lately about the travails of said DBM, some of them can no longer hold their tongue. It's in their psychological makeup...

[SkyPilot]

Excellent.

[Grampa Dave]

Please freep mail me the url link for her response.

[Grampa Dave]

Belay that last request. I missed that this was a freepmail.