A characteristically weak report from Gannett… the USA Today publisher reported Q1 revenue of $1.7 billion, a slide of 8.4 percent from $1.8 billion. Net income fell 8.9 percent to $191.7 million ($.84 per share) from $206.4 million ($.88 per share). However, this quarter included a one-time $25.5 million gain on the sale of land, which boosted EPS by $.07 per share. Some highlights:
– Ad revenue on the publishing side hit $1.1 billion, down from $1.2 billion a year ago. Classified revenue fell 16 percent.
– Broadcasting revenue fell 7 percent to $170 million. Online revenue increased 7 million in the broadcasting unit.
– Separately, the company announced figures for March. Total revs fell 10.3 percent to $573.6 million. There were no interactive dollar numbers, other than traffic figures up 15.1 percent. Release.