Gannett Releases October Statistical Report
ARLINGTON, VA – Gannett Co., Inc. reported today that total pro forma operating revenue increased 4 percent for the month of October compared to the same period in 1999.
Pro forma newspaper advertising revenues increased 2 percent in October on a pro forma ROP volume increase of 1 percent, reflecting strong national results. For comparison purposes, the sharp drop in the exchange rate on Sterling year-over-year impacted the company’s Newsquest and Newscom reported results. If the exchange rate had remained constant year-over-year, pro forma newspaper advertising revenues would have increased 4 percent.
Pro forma classified revenues advanced 2 percent in October on a 3 percent ad volume gain. If the exchange rate had remained constant year-over-year, classified revenues would have increased 4 percent. Employment revenues advanced 2 percent – the fifty-fourth sequential monthly increase. Real estate revenues advanced 2 percent and automotive revenues declined 1 percent.
Pro forma local revenues declined 1 percent on a 3 percent ad volume decline. Holding the currency constant year-over-year, local revenues would have been about flat. Revenues from our small and medium-sized advertisers in our domestic newspapers rose 3 percent while revenues from our largest advertisers declined 7 percent.
Pro forma national advertising revenues gained 8 percent in October on a 16 percent ad volume increase. If the exchange rate had remained constant year-over-year, national ad revenues would have increased 9 percent. Pro forma national advertising volume rose 19 percent at our domestic newspapers. At USA TODAY, paid advertising pages increased 3 percent to 752 from 732 in October 1999, and advertising revenues increased 5 percent. For the year-to-date, USA TODAY’s paid ad pages gained 9 percent to 5,771 from 5,271, while ad revenues were 13 percent higher.
Pro forma television revenues increased 17 percent in October, reflecting strong political advertising in the period. National ad revenues increased 40 percent and local ad revenues rose 2 percent. Television pacings for the entire fourth quarter are currently up in the mid to high single digit range.
The pro forma advertising revenue statistics include the results of Newsquest and Newscom, the 19 daily newspapers as well as the weekly and niche publications acquired from Thomson Newspapers, Inc., and Central Newspapers, Inc. as if they were all owned in both years for the month of October. However, ad linage for Newsquest and Newscom is not included in the ad volume statistics. Circulation volume numbers for Newquest’s and Newscom’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 an international news and information company that publishes 99 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns in excess of 300 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. In the United Kingdom, Gannett subsidiary Newsquest plc publishes nearly 300 titles, including 15 daily newspapers. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by most of 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:
Gracia Martore
Gannett Co., Inc.
Treasurer and Vice President/Investor Relations
703-284-6918
gmartore@gci1.gannett.com
GANNETT CO., INC. REVENUE & STATISTICAL SUMMARY
Period 10 (Sept 25, 2000 - Oct 29, 2000)
%
2000 1999 CHANGE CHANGE
REVENUES:
Advertising:
Local $ 121,232,000 $ 123,007,000 $ (1,775,000) (1)
National 84,450,000 78,155,000 6,295,000 8
Classified 171,967,000 169,221,000 2,746,000 2
Preprint & Other 64,616,000 61,831,000 2,785,000 5
------------- ------------- ------------ ----
Total Advertising $ 442,265,000 $ 432,214,000 $ 10,051,000 2
Circulation 119,313,000 120,639,000 (1,326,000) (1)
Television 95,119,000 81,326,000 13,793,000 17
------------- ------------- ------------ ----
Total Revenue $ 656,697,000 $ 634,179,000 $ 22,518,000 4
============= ============= ============ ====
VOLUME:
Newspaper Inches:
Local 3,966,086 4,084,668 (118,582) (3)
National 488,835 421,940 66,895 16
Classified 5,495,731 5,323,686 172,045 3
------------- ------------- ------------ ----
Total ROP 9,950,652 9,830,294 120,358 1
============= ============= ============ ====
Preprint Distribution
(in thousands) 990,411 944,292 46,119 5
============= ============= ============ ====
NET PAID CIRCULATION:
Morning (w/USAT) 7,133,903 7,184,718 (50,815) (1)
Evening 1,326,486 1,362,575 (36,089) (3)
------------- ------------- ------------ ----
Total Daily 8,460,389 8,547,293 (86,904) (1)
============= ============= ============ ====
Sunday 7,129,798 7,238,126 (108,328) (1)
============= ============= ============ ====
Year-to-Date through Oct 29, 2000
%
2000 1999 CHANGE CHANGE
REVENUES:
Advertising:
Local $1,048,732,000 $1,050,490,000 $ (1,758,000) (0)
National 640,980,000 577,516,000 63,464,000 11
Classified 1,587,957,000 1,524,242,000 63,715,000 4
Preprint & Other 547,930,000 502,698,000 45,232,000 9
-------------- -------------- ------------- ----
Total Advertising $3,825,599,000 $3,654,946,000 $170,653,000 5
Circulation 1,084,339,000 1,087,120,000 (2,781,000) (0)
Television 650,673,000 607,078,000 43,595,000 7
-------------- -------------- ------------- ----
Total Revenue $5,560,611,000 $5,349,144,000 $211,467,000 4
============== ============== ============= ====
VOLUME:
Newspaper Inches:
Local 33,974,168 34,552,170 (578,002) (2)
National 3,810,021 3,345,148 464,873 14
Classified 48,187,167 45,616,716 2,570,451 6
-------------- -------------- ------------- ----
Total ROP 85,971,356 83,514,034 2,457,322 3
============== ============== ============= ====
Preprint Distribution
(in thousands) 8,244,331 7,859,951 384,380 5
============== ============== ============= ====
NET PAID CIRCULATION:
Morning (w/USAT) 7,033,758 7,031,078 2,680 0
Evening 1,345,976 1,350,984 (5,008) (0)
-------------- -------------- ------------- ----
Total Daily 8,379,734 8,382,062 (2,328) (0)
============== ============== ============= ====
Sunday 7,140,429 7,242,729 (102,300) (1)
============== ============== ============= ====
Note: The above revenue amounts have been restated to include all companies presently owned, including results from Thomson Newspapers (acquired in July 2000), Central Newspapers (acquired in August 2000), and Newscom and Newsquest (acquired in June 2000 and July 1999, respectively). The Thomson Newspapers acquisition includes 19 daily newspapers and numerous weekly and niche publications in Wisconsin (eight dailies); Central Ohio (eight dailies); Lafayette, La.; Salisbury, Md.; and St. George, Utah. The Central Newspapers acquisition includes six daily newspapers and several weekly publications including The Arizona Republic and The Indianapolis Star, along with 3 other dailies in Indiana and a daily in Alexandria, La.
Newscom is a regional newspaper publisher in England with 114 titles, including paid and unpaid daily and non-daily products. Newsquest is a regional newspaper publisher in England with more than 180 publications, including paid and unpaid daily and non-daily products. Circulation volume statistics for Newsquest’s eleven paid daily newspapers and Newscom’s four paid daily newspapers are included above. Circulation volume for Newsquest’s and Newscom’s unpaid daily and non-daily publications is not reflected above. Advertising linage for Newsquest and Newscom publications is not reflected above. Certain adjustments were made to advertising revenues for Newsquest and Newscom to conform their reporting with the Gannett calendar. Revenue and volume statistics for all other companies presently owned are reflected above on a pro forma basis.