Gannett Q1 Net Profit Falls, Non-GAAP EPS Tops View - Quick Facts

(RTTNews) - Media holding company Gannett Co. Inc. (GCI), the publisher of USA Today, reported nearly 43% drop in first-quarter net income attributable to the company to $59.16 million, or $0.25 per share, from the prior year's $104.57 million, or $0.44 per share.

However, the firm posted a 27 percent rise in quarterly non-GAAP earnings per share to $0.47, from $0.37 in the first quarter of 2013, fueled by significant impact of the company's transformative acquisition of Belo Corp., which contributed to Broadcasting Segment results, and solid profitability in the Digital and Publishing Segments. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.46 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly operating revenues for the company totaled $1.40 billion, up 13.4 percent, versus $1.24 billion in the first quarter in 2013, reflecting revenue growth in the Broadcasting and Digital Segments of 99.5 percent and 2.8 percent, respectively. Six analysts estimated revenues of $1.42 billion for the quarter.