Gannett Q2 Profit Rises - Quick Facts

(RTTNews) - Gannett Co., Inc. (GCI) reported that its second-quarter net income rose to $53.33 million or $0.46 per share, from the last year's $52.11 million or $0.45 per share.

Operating revenues for the second quarter were $727.1 million compared to $796.5 million in the second quarter of 2014, a decrease of $69.4 million or 8.7%. This decline was partially due to approximately $12.0 million of prior year revenues related to exited businesses as well as $10.6 million of unfavorable foreign currency exchange rate changes.

Before the impact of exited businesses and foreign currency, revenues were down $46.8 million, or 6.0%. This decline in revenues is primarily attributable to ongoing advertiser demand shifts, partially offset by positive revenue trends in Gannett's digital products as well as $9.3 million of revenues from businesses acquired late in the quarter. Before the impact of exited businesses, foreign currency and acquisitions, revenues were down 7.2%.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share and revenues of $753.00 million. Analysts' estimates typically exclude special items.

For the second half of 2015, the company expects Capital expenditures of $50 - $55 million, including $10 million one-time spin-related and TNP expenditures.