Gannett Executives Present to the Media and Entertainment Analysts of New York
NEW YORK, NY – Gannett Co., Inc. (NYSE: GCI) Chairman, President and CEO Craig A. Dubow and other Gannett executives today reported on the company’s strategic initiatives, its results year-to-date and its outlook for the rest of the quarter, at a presentation to the Media and Entertainment Analysts of New York.
“Gannett has progressed on a number of its strategic initiatives including the rollout of its Information Centers which we expect will be completed for all of our properties by May 1. The effort and response by our employees to this challenge has been truly impressive,” Dubow said. “We are seeing some early successes in both content and audience growth. We believe we are moving in the right direction and there is opportunity for additional revenue growth through these efforts.”
Dubow also discussed the company’s UK operations and noted that Newsquest’s results were stabilizing. Advertising demand was positive in some regions while it remained soft in London and Scotland. Online revenue was up significantly year-to-date.
“The consensus of analysts’ earnings per share estimates for the first quarter of 2007 is now $0.90 with most of the estimates between $0.87 and $0.90,” Dubow said. “We are comfortable, at this point, with earnings per share in the range of $0.88 to $0.90.”
Sue Clark-Johnson, president of the Newspaper Division, noted: “The Information Center lays the groundwork for the results we can help our advertisers achieve. It is the means by which we grow more audiences than we ever had with a single print product. We are seeing traction not only in overall traffic but in audience segments important to advertisers.”
Craig Moon, president and publisher of USA TODAY, commented on the launch earlier this month of the redesigned USA TODAY.com. “Our ambition is to help readers make sense of their world by giving them a wider view of the news of the day and connecting them with other readers who can contribute to their understanding of events,” he said.
Roger Ogden, president and CEO of Gannett Broadcasting, noted that comparisons of the first quarter of 2007 to 2006 are difficult due to the strong Olympic performance at the company’s television stations last year. “However,” he said, “we continue to make advancements in our development of new business, which includes online opportunities and increased advertising on our digital channels. Online advertising continues to grow and is pacing up in the high 20 percent range for the first quarter.”
The Webcast of the presentation will be available under “Investor Relations” at www.gannett.com through March 29, 2007. The presentation will be archived in the “Investor Relations” section of the company’s Web site.
Also, the company said it began distributing the 2006 Annual Report and proxy statement to shareholders. Both the annual report and the proxy statement are available on its Web site, www.gannett.com.
To access the documents, look under “Investor Relations” and click on annual reports or proxy statement.
Gannett Co., Inc. is a leading international news and information company that publishes 90 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 1,000 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes nearly 300 titles, including 18 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
Certain statements in this press release may be forward looking in nature or “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The forward looking statements contained in this press release are subject to a number of risks, trends and uncertainties that could cause actual performance to differ materially from these forward looking statements. A number of those risks, trends and uncertainties are discussed in the company’s SEC reports, including the company’s annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward looking statements in this press release should be evaluated in light of these important risk factors.
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