McLean, Va. – Gannett (NYSE: GCI), the owner of USA Today and
numerous other media properties, on Monday reported a 51% jump in first-quarter
profits.
Net income for the period was $117.2 million, or $0.50 a share,
topping consensus analyst estimates by $0.09 a share, according to a survey by
Thomson Reuters.
Chairman and CEO Craig Dubow attributed the improvement to
increased ad demand in the U.S.
and U.K.,
as well as corporate cost reductions and lower newsprint expenses.
"We are
well positioned for continued growth as the economy improves and we are
extremely encouraged by the revenue trends and our ability to create and
capture operating leverage," said Dubow.
Related Links:
http://www.gannett.com/news/pressrelease/2010/1Q10.pdf
(PDF)
