Gannett Executives Speak at the Sixth Annual Noble Equity Conference
HOLLYWOOD, FL – Gannett (NYSE: GCI) executives at the Sixth Annual Noble Equity Conference provided an update on the company’s business strategy and outlook for 2010’s second quarter.
Craig A. Dubow, Gannett’s chairman and chief executive officer, reviewed the company’s strategy in its local media operations and its digital businesses.
“Gannett today is an efficient, customer-focused enterprise. In our core media operations, we are engaging with more consumers than ever. We are delivering relevant content that they want on any platform they desire. At the same time, we have a robust, profitable and growing digital business tightly interwoven with our core operations. We continue to make fundamental changes to better align our core operations to the changing business environment,” Dubow said.
Reviewing the second quarter outlook, Gracia C. Martore, president, chief operating officer and chief financial officer, cited improving revenue trends in all of the companies’ business segments as well as significant operating leverage. She also highlighted certain items that will impact the company’s second quarter results including certain tax adjustments and the sale of the Honolulu Advertiser and its assets.
“We expect the percentage increase in television advertising revenues in the second quarter to be in the low twenties and digital revenues to be up in the mid-single digits. In publishing, we continue to see improving trends and the percentage decrease in revenues is anticipated to be in the low-to-mid single digits,” Martore said. Regarding the company’s earnings per share for the second quarter, Martore noted that “most of the analysts’ earnings per share estimates are between $0.47 and $0.58 and the company is comfortable that earnings per share from continuing operations, excluding certain tax items, will be toward the high end of that range.”
Speeches by the Gannett executives will be available by Webcast for 30 days at www.gannett.com.
Gannett Co., Inc. (NYSE: GCI) is an international news and information company operating on multiple platforms including the Internet, mobile, newspapers, magazines and TV stations. Gannett is an Internet leader with hundreds of newspaper and TV web sites; CareerBuilder.com, the nation’s top employment site; USATODAY.com; and more than 80 local MomsLikeMe.com sites. Gannett publishes 82 daily U.S. newspapers, including USA TODAY, the nation’s largest-selling daily newspaper, and more than 600 magazines and other non-dailies, including USA WEEKEND. Gannett also operates 23 television stations in 19 U.S. markets. Gannett subsidiary Newsquest is one of the UK’s leading regional community news providers, with 17 daily paid-for titles, more than 200 weekly newspapers, magazines and trade publications, and a network of web sites.
Certain factors affecting forward-looking statements
Certain statements in this press release may be deemed “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 including, without limitation, the following factors: a) increased consolidation among major retailers or other events which may adversely affect business operations of major customers and depress the level of local and national advertising; (b) a continuance of the economic recessionary conditions in the U.S. and the UK or a further economic downturn leading to a continuing or accelerated decrease in circulation or local, national or classified advertising; (c) a decline in general newspaper readership and/or advertiser patterns as a result of competitive alternative media or other factors; (d) an increase in newsprint or syndication programming costs over the levels anticipated; (e) labor disputes which may cause revenue declines or increased labor costs; (f) acquisitions of new businesses or dispositions of existing businesses; (g) a decline in viewership of major networks and local news programming; (h) rapid technological changes and frequent new product introductions prevalent in electronic publishing; (i) an increase in interest rates; (j) a weakening in the British pound to U.S. dollar exchange rate; (k) volatility in financial and credit markets which could affect the value of retirement plan assets and the Company’s ability to raise funds through debt or equity issuances; (1) changes in the regulatory environment; (m) an other than temporary decline in operating results and enterprise value that could lead to further non-cash goodwill, or other intangible asset or property, plant and equipment impairment charges; (n) credit rating downgrades, which could affect the availability and cost of future financing; and (o) general economic, political and business conditions. Other risk factors that could cause actual results to differ materially from these forward-looking statements are disclosed from time to time in the Company’s current and periodic SEC reports. Any forward-looking statements in this press release should be evaluated in light of these important risk factors.
Gannett is not responsible for updating the information contained in these assumptions beyond the published date, or for changes made to the assumptions by wire services, Internet service providers or other media.
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