McClatchy Q4 Adjusted Earnings Up 57.2% - Quick Facts

(RTTNews) - The McClatchy Company (MNI) reported, on a GAAP basis, fourth-quarter income from continuing operations of $8.8 million, or $0.10 per share. In the fourth quarter of 2014, the company reported net income from continuing operations of $303.0 million, or $3.45 per share, which included a $347.5 after-tax gain on the sale of McClatchy's interest in Cars.com and an after-tax loss of $46.2 million on extinguishment of debt resulting from the use of the Cars.com proceeds.

Net income from continuing operations in the fourth quarter of 2015 excluding certain items was $17.3 million, a 57.2% improvement when compared to adjusted earnings in the fourth quarter of 2014 of $11.0 million.

Total revenues, including gross sales of Cars.com and certain other digital products and services, in the fourth quarter of 2015 were $292.8 million, down 7.8% compared to the fourth quarter of 2014. Total advertising revenues, based upon gross sales, were $184.7 million, down 11.7% compared to the same quarter last year.