Gannett Reiterates 2016 Outlook - Quick Facts

(RTTNews) - While reporting its first-quarter financial results today, publishing company Gannett Inc. (GCI) reiterated its financial outlook for fiscal 2016.

For fiscal 2016, Gannett expects revenue trends, excluding impact of the JMG acquisition, to improve over 2015 driven largely by growth in digital. It expects advertising revenues to decline in the 5 percent to 7 percent range, and circulation revenues to decline in the 2 percent to 4 percent range.

The company noted that EBITDA margins will likely stay under pressure in the short term as it continues to offset incremental public company costs, the earnings impact of declining revenues, higher non-cash pension expense, and lower contributions from CareerBuilder, with ongoing cost efficiency programs and growth in digital revenue.

With the recent completion of the acquisition of Journal Media Group, Inc. or JMG, the company expects to update its 2016 guidance to include JMG in connection with the reporting of second quarter results.