GateHouse Media reports $214 million loss

GateHouse Media, owner of The Carthage Press, Neosho Daily News, Pittsburg Morning Sun, and hundreds of other newspapers across the United States reported a loss of $214.7 million during the fourth quarter:

The newspaper publisher reported a loss of $214.7 million, or $3.78 per share, compared with a profit of $7.8 million, or 23 cents per share, a year earlier. The latest quarter included a charge of $226 million, or $3.42 per share.

Revenue for the period ended Dec. 31 climbed 76 percent to $172.2 million from $97.9 million.

Analysts polled by Thomson Financial expected adjusted profit of 4 cents per share on revenue of $172.1 million.

Advertising revenue rose to $127.1 million from $75.3 million, while circulation revenue increased to $35.5 million from $16.4 million.

For the year, Gatehouse reported a loss of $231.4 million, or $4.99 per share, compared with a loss of $1.6 million, or 6 cents per share, in the prior year. Annual sales soared 87 percent to $588.9 million from $314.9 million.