Monday, January 31, 2011

Advertising revenues down for News-Leader parent company, Gannett

Advertising revenues for Gannett, owner of the Springfield News-Leader, were down 5.9 percent and operating revenues fell 4.7 percent compared to last year, according to the company's quarterly earnings statement, filed today with the Securities and Exchange Commission:

Publishing segment operating revenues were $1.1 billion for the quarter, a decline of 4.7 percent compared to the fourth quarter in 2009. Sequential improvement in year-over-year comparisons for the retail and classified categories as well as circulation and other revenue was offset by a decline in national advertising. On a two-year comparison basis, publishing operating revenues in the fourth quarter were almost 8 percentage points better than third quarter comparisons and were the best quarterly comparisons for the year.

As noted, the company completed the sale of The Honolulu Advertiser and its related assets as well as a small directory publishing operation during the second quarter of 2010. Revenue associated with these businesses, now reflected as discontinued operations, totaled approximately $30 million in the fourth quarter of 2009.

Advertising revenues totaled $722.3 million compared to $767.6 million for the fourth quarter last year, a 5.9 percent decline. In the U.S., advertising revenues were 4.8 percent lower while at Newsquest, our operations in the UK, advertising revenues lagged last year by 7.9 percent, in pounds.


No comments: