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Patrick McKeough is one of Canada’s top safe-money advisors. The Wall Street Journal, Forbes and The Hulbert Financial Digest have all recognized his ability to find stocks with hidden value. He is editor and publisher of The Successful Investor, Stock Pickers Digest, Wall Street Stock Forecaster and Canadian Wealth Advisor; inventor of the Quick Profit/Value System and the ValuVesting System™. A best-selling Canadian author, he wrote Riding the Bull, the book that predicted the 1990s stock-market boom.

Stock market investments: Rising newsprint costs weigh on Gannett’s earnings

August 24, 2011 -  One Comment
Posted by: Jeff Walker Filed in: Stock Market
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Gannett Co. Inc., New York symbol GCI, reported revenue of $1.33 billion in the three months ended June 26, 2011. That’s down 2.2%, from $1.37 billion a year earlier.

The company is seeing lower advertising revenue at its 82 newspapers, including its flagship paper, USA Today. That’s mainly because its 2010 revenue benefited from advertising tied to the U.S. midterm elections. However, the company’s revenue from its digital operations, such as CareerBuilder.com and newspaper web sites, rose 12.6% in the quarter.

Earnings fell 13.5 %, to $151.5 million, or $0.62 per share, from $175.2 million, or $0.73 per share. The company’s publishing earnings were hurt by a 9.3% increase in newsprint costs. To cut costs, the company announced in June 2011 that it will cut 700 jobs, or 2% of its workers.

Gannett is a dividend paying stock. Its annual rate of $0.32 a share yields 2.3%. The company also plans to resume buying back its own shares.

Gannett is just one of the U.S. stock market investments we analyze in our Wall Street Stock Forecaster newsletter. You can get the latest issue, along with 5 in-depth Special Reports, access to our weekly Email/Telephone Hotlines (which keep you up to date on our U.S. stock market investments between issues) and much more absolutely FREE when you subscribe now. Click here to get started right away.

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One Response to “Stock market investments: Rising newsprint costs weigh on Gannett’s earnings”

  1. BullseyeMicrocaps.com » Can These 5 Sluggish Newspaper Companies Survive The Digital Age? on November 28th, 2011 at 5:41 pm

    [...] widely available. Second, a sluggish economy has walloped advertising revenues. And third, newsprint and paper prices have increased substantially in recent years. The traditional newspaper business, [...]

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