Gannett Releases December Statistical Report
McLEAN, VA – Gannett Co., Inc. (NYSE: GCI) reported today that total pro forma operating revenues for the twelfth period ended December 30, 2007, declined 24.1 percent. The twelfth period in 2007 spanned the usual four weeks compared to five weeks for the twelfth period in 2006. Therefore, comparisons are not fully representative of current trends. A schedule summarizing revenue trends excluding the extra week in 2006 has been included with this release. Total pro forma operating revenues would have been 10.8 percent lower excluding the extra week in period twelve in 2006. Pro forma assumes that all properties presently owned were owned in both periods.
Newspaper advertising revenues in December were 26.4 percent lower compared with the same period in 2006. Excluding the extra week in the twelfth period in 2006, pro forma advertising revenues would have declined 14.5 percent.
Pro forma local advertising revenues were down 23.7 percent in the period but would have been 9.8 percent lower excluding the fifth week in 2006.
Pro forma classified revenues declined 28.6 percent in the twelfth period. Pro forma classified revenues would have been 17.4 percent lower on a four-week to four-week comparison. On the same basis, classified revenues at our domestic newspaper properties would have declined 16.8 percent.
Pro forma national advertising revenues in December were down 29.8 percent and would have declined 21.7 percent excluding the extra week. At USA TODAY, advertising revenues were
28.4 percent lower on ad pages of 312 versus 476 last year on a four week comparison basis. For the twelfth period excluding the extra week in 2006, at USA TODAY, strong growth in the packaged goods and credit card categories was offset by weakness in other major categories.
Pro forma broadcasting revenues, which include Captivate, declined 21.7 percent in the twelfth period. Excluding the fifth week, broadcast revenues and television revenues would have been
6.5 percent lower.
Other revenue, on a comparable week basis, increased 3.1 percent in December.
Beginning with this report, the company’s equity share of operating results from its newspaper partnerships, including Tucson, which participates in a joint operating agency, the California Newspapers Partnership and Texas-New Mexico Newspapers Partnership have been reclassified from “Other revenue”. It is now reflected in a separate line in the Non-operating section of the Consolidated Statement of Income titled “Equity income in unconsolidated investees, net”. Reclassifications have been made for all periods presented. Other revenue is now comprised principally of commercial printing revenues and revenue from PointRoll.
For the fourth quarter of 2007, total pro forma operating revenues were 11.9 percent lower. The fourth quarter was comprised of 13 weeks in 2007 compared to 14 weeks in 2006. Excluding the extra week in 2006’s fourth quarter, pro forma operating revenues would have declined 7.2 percent.
Newspaper advertising revenues, on a pro forma basis, for the fourth quarter were down
12.2 percent and excluding the extra week would have been 7.7 percent lower. Domestic newspaper advertising declined 14.1 percent and on a comparable week basis would have been down 9.3 percent.
For the fourth quarter, pro forma local advertising was down 9.0 percent but would have been 3.3 percent lower excluding the extra week.
Pro forma classified revenues for the quarter declined 16.1 percent and excluding the extra week would have been 11.4 percent lower.
Pro forma national advertising was 12.9 percent lower for the fourth quarter. National advertising would have declined 11.6 percent, excluding the extra week. At USA TODAY advertising revenues were 12.7 percent lower in the quarter while paid advertising pages totaled 1,045 versus 1,285 in the fourth quarter of 2006 on a comparable week basis. On the same basis at USA TODAY, the financial, advocacy and packaged goods categories grew significantly while all other major categories lagged last year’s results.
Pro forma broadcasting revenues for the quarter were down 21.7 percent and would have been 18.0 percent lower excluding the extra week. Television revenues were 18.8 percent lower on a comparable week basis reflecting primarily the relative absence of advertising demand associated with politics that totaled almost $58 million in the fourth quarter of 2006. Based on current pacings, television revenues for the first quarter of 2008 would lag last year’s first quarter in the mid-single digits.
Other revenue in the quarter, excluding the extra week in 2006, was 5.3 percent higher.
In addition to the revenue and statistical summary, attached is a chart which shows the consolidated Gannett Online audience share for December from Nielsen//Net Ratings. In December, Gannett’s domestic Websites had approximately 23.9 million unique visitors reaching 14.5 percent of the Internet audience.
On May 7, 2007, the company completed its sale of the Norwich (CT) Bulletin, the Rockford (IL) Register Star, the Observer-Dispatch in Utica, NY, and The Herald-Dispatch in Huntington, WV. In addition, the Chronicle-Tribune in Marion, IN, was contributed to the Gannett Foundation on May 21, 2007. The revenue and statistical data related to these properties has been excluded from all periods presented.
The pro forma broadcasting revenue statistics include results for KTVD-TV in Denver (acquired in late June 2006 and operated as a duopoly with KUSA-TV) and WATL-TV in Atlanta (acquired in August 2006 and operated as a duopoly with WXIA-TV). Ad linage for Newsquest, Clipper and Gannett Healthcare Group are not included in the ad volume statistics. Circulation volume numbers for Newsquest’s paid daily newspapers are included in the enclosed statistics, but volume from unpaid daily and non-daily publications is not included in the circulation volume statistics.
Gannett Co., Inc. is a leading international news and information company that publishes 85 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.
Gannett is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media.
Contact:
Jeff Heinz
Director, Investor Relations
703-854-6917
jheinz@gannett.com
GANNETT CO., INC.
REVENUE & STATISTICAL SUMMARY
Period 12 (December 3, 2007 - December 30, 2007)
%
2007 2006 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 185,135,000 $ 242,668,000 $ (57,533,000) (23.7)
National 63,774,000 90,839,000 (27,065,000) (29.8)
Classified 115,705,000 162,110,000 (46,405,000) (28.6)
-------------- ------------- ------------- ------
Total Advertising $ 364,614,000 $ 495,617,000 $ (131,003,000) (26.4)
============== ============= ============= ======
Circulation 98,111,000 123,008,000 (24,897,000) (20.2)
Other revenue 39,466,000 45,038,000 (5,572,000) (12.4)
Broadcasting 58,382,000 74,521,000 (16,139,000) (21.7)
-------------- ------------- ------------- ------
Total Revenue $ 560,573,000 $ 738,184,000 $ (177,611,000) (24.1)
============== ============= ============= ======
VOLUME:
Newspaper Inches:
Local 2,680,418 3,520,571 (840,153) (23.9)
National 255,604 346,457 (90,853) (26.2)
Classified 3,184,975 4,372,867 (1,187,892) (27.2)
-------------- ------------- ------------- ------
Total ROP 6,120,997 8,239,895 (2,118,898) (25.7)
============== ============= ============= ======
Preprint Distribution
(in thousands) 1,144,437 1,467,444 (323,007) (22.0)
============== ============= ============= ======
NET PAID CIRCULATION:
Morning (w/USAT) 6,400,510 6,604,708 (204,198) (3.1)
Evening 797,076 833,377 (36,301) (4.4)
-------------- ------------- ------------- ------
Total Daily 7,197,586 7,438,085 (240,499) (3.2)
============== ============= ============= ======
Sunday 5,660,295 5,967,138 (306,843) (5.1)
============== ============= ============= ======
Year-to-Date through December 30, 2007
%
2007 2006 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 2,178,614,000 $ 2,278,423,000 $ (99,809,000) (4.4)
National 765,861,000 819,648,000 (53,787,000) (6.6)
Classified 1,992,684,000 2,177,422,000 (184,738,000) (8.5)
-------------- ------------- ------------- ------
Total Advertising $ 4,937,159,000 $ 5,275,493,000 $ (338,334,000) (6.4)
============== ============= ============= ======
Circulation 1,252,356,000 1,279,022,000 (26,666,000) (2.1)
Other revenue 460,648,000 435,982,000 24,666,000 5.7
Broadcasting 789,297,000 884,568,000 (95,271,000) (10.8)
-------------- ------------- ------------- ------
Total Revenue $ 7,439,460,000 $ 7,875,065,000 $ (435,605,000) (5.5)
============== ============= ============= ======
VOLUME:
Newspaper Inches:
Local 31,325,404 33,682,269 (2,356,865) (7.0)
National 2,997,098 3,318,393 (321,295) (9.7)
Classified 48,463,520 54,137,086 (5,673,566) (10.5)
-------------- ------------- ------------- ------
Total ROP 82,786,022 91,137,748 (8,351,726) (9.2)
============== ============= ============= ======
Preprint Distribution
(in thousands) 11,667,778 12,211,203 (543,425) (4.5)
============== ============= ============= ======
NET PAID CIRCULATION:
Morning (w/USAT) 6,718,157 6,840,006 (121,849) (1.8)
Evening 822,724 859,839 (37,115) (4.3)
-------------- ------------- ------------- ------
Total Daily 7,540,881 7,699,845 (158,964) (2.1)
============== ============= ============= ======
Sunday 5,827,704 6,068,076 (240,372) (4.0)
============== ============= ============= ======
Note: Beginning with this report, the company’s equity share of operating results from its newspaper partnerships, including Tucson, which participates in a joint operating agency, the California Newspapers Partnership and the Texas-New Mexico Newspapers Partnership have been reclassified from “Other revenue” above and are reflected in a separate line in the non-Operating section of the Statement of Income titled “Equity income in unconsolidated investees, net.” Reclassifications have been made for all prior periods presented. Other revenue is now comprised principally of commercial printing revenues and revenue from PointRoll.
The above revenue amounts and statistics have been restated to
include all companies presently owned, including KTVD-TV in Denver
(acquired in late June 2006 and operated as a duopoly along with
KUSA-TV) and WATL-TV in Atlanta (acquired in August 2006 and operated
as a duopoly along with WXIA-TV). In May 2007, Gannett sold the
Norwich (CT) Bulletin, the Rockford (IL) Register Star, the
Observer-Dispatch in Utica, NY and The Herald-Dispatch in Huntington,
WV. In May 2007 and April 2006, Gannett contributed the Chronicle-
Tribune in Marion, IN and the Muskogee (OK) Phoenix, respectively, to
the Gannett Foundation. All revenue amounts and statistics related
to the sold and donated properties are excluded from all periods
presented.
Advertising linage statistics from the company’s newspaper in
Tucson, which participates in a joint operating agency, are not
included above, however, circulation volume statistics are included.
Newsquest is a regional newspaper publisher in the United Kingdom
with nearly 300 titles, including paid and unpaid daily and
non-daily products. Circulation volume statistics for Newsquest’s
18 paid-for daily newspapers are included above. Circulation volume
statistics for the Sunday Herald are included above in the Sunday
statistics. Circulation volume statistics for Newsquest’s unpaid
daily and non-daily publications are not reflected above.
Advertising linage for Newsquest publications is not reflected above.
Circulation volume and advertising linage statistics for non-daily
products, including Gannett Healthcare Group and Clipper Magazine
are not reflected above.
GANNETT CO., INC.
REVENUE & STATISTICAL SUMMARY
4th Quarter 2007 (October 1, 2007 - December 30, 2007)
%
2007 2006 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 599,982,000 $ 659,264,000 $ (59,282,000) (9.0)
National 214,673,000 246,335,000 (31,662,000) (12.9)
Classified 431,443,000 514,335,000 (82,892,000) (16.1)
-------------- ------------- ------------- ------
Total Advertising $ 1,246,098,000 $ 1,419,934,000 $ (173,836,000) (12.2)
============== ============= ============= ======
Circulation 313,408,000 337,442,000 (24,034,000) (7.1)
Other revenue 125,381,000 125,585,000 (204,000) (0.2)
Broadcasting 212,031,000 270,645,000 (58,614,000) (21.7)
-------------- ------------- ------------- ------
Total Revenue $ 1,896,918,000 $ 2,153,606,000 $ (256,688,000) (11.9)
============== ============= ============= ======
VOLUME:
Newspaper Inches:
Local 8,512,609 9,684,382 (1,171,773) (12.1)
National 835,547 934,124 (98,577) (10.6)
Classified 11,123,422 13,367,251 (2,243,829) (16.8)
-------------- ------------- ------------- ------
Total ROP 20,471,578 23,985,757 (3,514,179) (14.7)
============== ============= ============= ======
Preprint Distribution
(in thousands) 3,441,145 3,739,948 (298,803) (8.0)
============== ============= ============= ======
NET PAID CIRCULATION:
Morning (w/USAT) 6,640,562 6,814,441 (173,879) (2.6)
Evening 826,468 864,812 (38,344) (4.4)
-------------- ------------- ------------- ------
Total Daily 7,467,030 7,679,253 (212,223) (2.8)
============== ============= ============= ======
Sunday 5,747,929 6,040,982 (293,053) (4.9)
============== ============= ============= ======
Note: Beginning with this report, the company’s equity share of operating
results from its newspaper partnerships, including Tucson, which
participates in a joint operating agency, the California Newspapers
Partnership and the Texas-New Mexico Newspapers Partnership have been
reclassified from “Other revenue” above and are reflected in a
separate line in the Non-Operating section of the Statement of Income
titled “Equity income in unconsolidated investees, net.”
Reclassifications have been made for all prior periods presented.
Other revenue is now comprised principally of commercial printing
revenues and revenue from PointRoll.
The above revenue amounts and statistics have been restated to
include all companies presently owned, including KTVD-TV in Denver
(acquired in late June 2006 and operated as a duopoly along with
KUSA-TV) and WATL-TV in Atlanta (acquired in August 2006 and operated
as a duopoly along with WXIA-TV). In May 2007, Gannett sold the
Norwich (CT) Bulletin, the Rockford (IL) Register Star, the
Observer-Dispatch in Utica, NY and The Herald-Dispatch in Huntington,
WV. In May 2007 and April 2006, Gannett contributed the Chronicle-
Tribune in Marion, IN and the Muskogee (OK) Phoenix, respectively, to
the Gannett Foundation. All revenue amounts and statistics related
to the sold and donated properties are excluded from all periods
presented.
Advertising linage statistics from the company’s newspaper in
Tucson, which participates in a joint operating agency, are not
included above, however, circulation volume statistics are included.
Newsquest is a regional newspaper publisher in the United Kingdom
with nearly 300 titles, including paid and unpaid daily and
non-daily products. Circulation volume statistics for Newsquest’s
18 paid-for daily newspapers are included above. Circulation volume
statistics for the Sunday Herald are included above in the Sunday
statistics. Circulation volume statistics for Newsquest’s unpaid
daily and non-daily publications are not reflected above.
Advertising linage for Newsquest publications is not reflected above.
Circulation volume and advertising linage statistics for non-daily
products, including Gannett Healthcare Group and Clipper Magazine
are not reflected above.
GANNETT CO., INC.
REVENUE & STATISTICAL SUMMARY
Period 12 (December 3, 2007 - December 30, 2007)
Excluding 53rd Week in 2006
%
2007 2006 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 185,135,000 $ 205,149,000 $ (20,014,000) (9.8)
National 63,774,000 81,441,000 (17,667,000) (21.7)
Classified 115,705,000 140,088,000 (24,383,000) (17.4)
-------------- -------------- -------------- ------
Total Advertising $ 364,614,000 $ 426,678,000 $ (62,064,000) (14.5)
============== ============== ============== ======
Circulation 98,111,000 101,267,000 (3,156,000) (3.1)
Other revenue 39,466,000 38,274,000 1,192,000 3.1
Broadcasting 58,382,000 62,443,000 (4,061,000) (6.5)
-------------- -------------- -------------- ------
Total Revenue $ 560,573,000 $ 628,662,000 $ (68,089,000) (10.8)
============== ============== ============== ======
Year-to-Date through December 30, 2007
Excluding 53rd Week in 2006
%
2007 2006 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 2,178,614,000 $ 2,231,217,000 $ (52,603,000) (2.4)
National 765,861,000 850,525,000 (84,664,000) (10.0)
Classified 1,992,684,000 2,123,434,000 (130,750,000) (6.2)
-------------- -------------- -------------- ------
Total Advertising $ 4,937,159,000 $ 5,205,176,000 $ (268,017,000) (5.1)
============== ============== ============== ======
Circulation 1,252,356,000 1,257,924,000 (5,568,000) (0.4)
Other revenue 460,648,000 430,593,000 30,055,000 7.0
Broadcasting 789,297,000 872,490,000 (83,193,000) (9.5)
-------------- -------------- -------------- ------
Total Revenue $ 7,439,460,000 $ 7,766,183,000 $ (326,723,000) (4.2)
============== ============== ============== ======
Note: Beginning with this report, the company’s equity share of operating
results from its newspaper partnerships, including Tucson, which
participates in a joint operating agency, the California Newspapers
Partnership and the Texas-New Mexico Newspapers Partnership have been
reclassified from “Other revenue” above and are reflected in a
separate line in the Non-Operating section of the Statement of Income
titled “Equity income in unconsolidated investees, net.”
Reclassifications have been made for all prior periods presented.
Other revenue is now comprised principally of commercial printing
revenues and revenue from PointRoll.
The above revenue amounts have been restated to include all companies
presently owned, including KTVD-TV in Denver (acquired in late June
2006 and operated as a duopoly along with KUSA-TV) and WATL-TV in
Atlanta (acquired in August 2006 and operated as a duopoly along with
WXIA-TV). In May 2007, Gannett sold the Norwich (CT) Bulletin, the
Rockford (IL) Register Star, the Observer-Dispatch in Utica, NY and
The Herald-Dispatch in Huntington, WV. In May 2007 and April 2006,
Gannett contributed the Chronicle-Tribune in Marion, IN and the
Muskogee (OK) Phoenix, respectively, to the Gannett Foundation. All
revenue amounts related to the sold and donated properties are
excluded from all periods presented.
GANNETT CO., INC.
REVENUE & STATISTICAL SUMMARY
4th Quarter 2007 (October 1, 2007 - December 30, 2007)
Excluding 53rd Week in 2006
%
2007 2006 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 599,982,000 $ 620,776,000 $ (20,794,000) (3.3)
National 214,673,000 242,980,000 (28,307,000) (11.6)
Classified 431,443,000 486,957,000 (55,514,000) (11.4)
-------------- -------------- -------------- ------
Total Advertising $ 1,246,098,000 $ 1,350,713,000 $ (104,615,000) (7.7)
============== ============== ============== ======
Circulation 313,408,000 315,808,000 (2,400,000) (0.8)
Other revenue 125,381,000 119,101,000 6,280,000 5.3
Broadcasting 212,031,000 258,567,000 (46,536,000) (18.0)
-------------- -------------- -------------- ------
Total Revenue $ 1,896,918,000 $ 2,044,189,000 $ (147,271,000) (7.2)
============== ============== ============== ======
Note: Beginning with this report, the company’s equity share of operating
results from its newspaper partnerships, including Tucson, which
participates in a joint operating agency, the California Newspapers
Partnership and the Texas-New Mexico Newspapers Partnership have been
reclassified from “Other revenue” above and are reflected in a
separate line in the Non-Operating section of the Statement of Income
titled “Equity income in unconsolidated investees, net.”
Reclassifications have been made for all prior periods presented.
Other revenue is now comprised principally of commercial printing
revenues and revenue from PointRoll.
The above revenue amounts have been restated to include all companies
presently owned, including KTVD-TV in Denver (acquired in late June
2006 and operated as a duopoly along with KUSA-TV) and WATL-TV in
Atlanta (acquired in August 2006 and operated as a duopoly along with
WXIA-TV). In May 2007, Gannett sold the Norwich (CT) Bulletin, the
Rockford (IL) Register Star, the Observer-Dispatch in Utica, NY and
The Herald-Dispatch in Huntington, WV. In May 2007 and April 2006,
Gannett contributed the Chronicle-Tribune in Marion, IN and the
Muskogee (OK) Phoenix, respectively, to the Gannett Foundation. All
revenue amounts related to the sold and donated properties are
excluded from all periods presented.
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Gannett Online Internet Audience December 2007 Nielsen//Net Ratings Home/Work Panel Combined Unique Visitors Percentage Reach of Per Month Internet Audience Gannett Online 23,900,000 14.5%