Gannett Posts Higher Revenue, Lower Net in Q4
Feb 4th 2013 4:54PM
Updated Feb 4th 2013 5:10PM
Gannett's Q4 and 2012 results, released today, revealed a smaller profit but higher revenue. For the quarter, the company netted a profit of $103 million ($0.44 per diluted share), against $200 million ($0.86) in Q4 2011.
However, revenue grew over that same time frame, by 9% to $1.5 billion. This was the first year-over-year growth in top line since 2006.
Much of the improvement was derived from the company's broadcasting operations, which advanced 44% on a year-over-year basis, in large part because of a record level of spending on political ads during the quarter.
For fiscal 2012, net profit amounted to $424 million ($1.79 diluted EPS), a 7.5% drop from the $459 million ($1.89) of the previous year. Revenues were slightly higher at $5.4 billion.
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