The profit of $233 million, or $1.02 per share, compared with a $366 million, or $1.56 per-share profit in the year-ago quarter. The earnings matched expectations of Wall Street analysts surveyed by Thomson Financial.
The company's shares dropped 9 percent, or $1.61, to $15.74 in midday trading. Gannett stock has lost two-thirds of its value in the last year.
Wednesday, July 16, 2008
News-Leader owner reports 36 percent profit drop
Gannett Co., owner of the Springfield News-Leader reported profits dropped 36 percent during the second quarter: