-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TZA5KwB/flX7Ns6cJJPHRHwHlM0P4JPyrDZI2YfNzWMkf0ShalYgvKT/BhmeGqkI eVc+aTTTU0mZWIQe0HfV2w== 0000039899-07-000009.txt : 20070419 0000039899-07-000009.hdr.sgml : 20070419 20070419084734 ACCESSION NUMBER: 0000039899-07-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070401 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070419 DATE AS OF CHANGE: 20070419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GANNETT CO INC /DE/ CENTRAL INDEX KEY: 0000039899 STANDARD INDUSTRIAL CLASSIFICATION: NEWSPAPERS: PUBLISHING OR PUBLISHING & PRINTING [2711] IRS NUMBER: 160442930 STATE OF INCORPORATION: DE FISCAL YEAR END: 1225 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06961 FILM NUMBER: 07774958 BUSINESS ADDRESS: STREET 1: 7950 JONES BRANCH DRIVE CITY: MCLEAN STATE: VA ZIP: 22107-0910 BUSINESS PHONE: 7038546000 MAIL ADDRESS: STREET 1: 7950 JONES BRANCH DRIVE CITY: MCLEAN STATE: VA ZIP: 22107-0910 8-K 1 form8-k.htm FORM 8-K 8k

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported):

April 19, 2007

GANNETT CO., INC.
(Exact name of registrant as specified in charter)

 

 

 

Delaware

 1-6961

16-0442930

(State or Other Jurisdiction of Incorporation or 
Organization of Registrant)

(Commission File Number) 

(I.R.S. Employer Identification No.)

 

 

 

7950 Jones Branch Drive, McLean, Virginia

 

22107-0910

(Address of principal executive offices)

 

(Zip Code)

 

(703) 854-6000

 
 

(Registrant's telephone number, including area code)

 
 

 

 
 

Not Applicable

 
 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 2.02  Results of Operations and Financial Condition.

    On April 19, 2007, Gannett Co., Inc. reported its consolidated financial results for the first quarter ended April 1, 2007.   On April 19, 2007, the company also issued a press release announcing the company's statistical report for the period and quarter ended April 1, 2007.  Copies of these press releases are furnished with this report as exhibits.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

                See Index to Exhibits attached hereto.

 

SIGNATURE

    Pursuant to requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

Gannett Co., Inc.

   

 

Date:  April 19, 2007

By:

/s/George R. Gavagan             

 

 

George R. Gavagan

   

Vice President and Controller

 

 

INDEX TO EXHIBITS

Exhibit No.

 

Description

   

 

99.1

 

Gannett Co., Inc. Earnings Press Release dated April 19, 2007.

99.2

 

Gannett Co., Inc. Statistical Report Press Release dated April 19, 2007.

     

 

EX-99 2 exh99-1.htm EXHIBIT 99.1 EARNINGS PRESS RELEASE DATED APRIL 19, 2007 News Release

 

News Release

 

FOR IMMEDIATE RELEASE

Thursday, April 19, 2007

Gannett Co., Inc. Reports First Quarter Results

McLEAN, VA - Gannett Co., Inc. (NYSE: GCI) reported today that 2007 first quarter earnings per diluted share from continuing operations were $0.90 compared with $0.99 per share in the first quarter of 2006.

"Results for the quarter were in line with expectations. On the positive side, our operations in the UK contributed to our results as did online revenue company wide. Our broadcasting segment posted positive revenue growth. The acquisition of the additional television stations in Denver and Atlanta, and strong results for Captivate and online, offset the absence of over $22 million of Olympic-related ad spending.

"However, advertising demand was tempered by severe weather, the absence of the final week in the calendar year, which was included in the first quarter of 2006, and the softening domestic real estate market. Our non-operating results also were impacted by the gain on the sale of the Cincinnati Reds a year ago and higher interest expense," said Craig A. Dubow, chairman, president and chief executive officer.

"Executing on our strategic plan and delivering profitable top-line revenue growth continues to be our focus. We are seeing early successes and are gaining traction in our local communities particularly through our Information Center efforts," he added.

Reported results for the current quarter include KTVD-TV in Denver and WATL-TV in Atlanta which the company acquired during the third quarter of 2006.

Total operating revenues for the company were $1.87 billion in the first quarter compared to $1.88 billion in the first quarter of 2006 reflecting the absence of revenue associated with the Olympics in 2006's first quarter, softer advertising demand at our domestic newspaper properties and tough year-over-year comparisons. Total operating revenues would have been 1.2 percent lower on a pro forma basis assuming Gannett owned the same complement of properties in the first quarters of 2007 and 2006. Operating cash flow (defined as operating income plus depreciation and amortization) was $471.6 million compared to $488.2 million in the same quarter a year ago. Net income was $210.6 million in the first quarter of 2007 compared with $235.3 million in the year-ago quarter.

Reported operating expenses totaled $1.47 billion for the quarter, an increase of less than one percent reflecting continuing strong cost controls, a slight increase in newsprint expense, the impact of the television station acquisitions and a higher exchange rate for the British pound. On a pro forma basis, total operating expenses were 0.2 percent higher. Corporate expenses increased 12.6 percent to $23.1 million compared to $20.5 million in the first quarter of 2006 due entirely to the timing of stock-based compensation awards.

(more)

Average diluted shares outstanding in the first quarter totaled 235,005,000 compared with 238,375,000 in 2006's first quarter. During the quarter, approximately 177,600 shares were repurchased.

NEWSPAPERS

Newspaper segment operating revenues totaled $1.69 billion for the first quarter, a 0.7 percent decline compared to the first quarter of 2006. Reported advertising revenues were down 1.9 percent to $1.24 billion for the quarter while circulation revenue was unchanged at $324.0 million. Advertising revenues would have been 1.8 percent lower if Gannett had owned the same group of newspapers in both the first quarters of 2007 and 2006. On a comparable basis, local advertising revenues increased 0.6 percent, national advertising revenues were 4.8 percent lower and classified revenues were down 3.0 percent. In the UK, pro forma advertising revenues were 1.4 percent higher on a constant currency basis while in the U.S. pro forma advertising revenues were down 4.8 percent. Operating cash flow for the total newspaper segment, which includes USA TODAY and our UK properties, was $417.8 million in the first quarter.

Total newspaper operating expenses were flat for the quarter reflecting effective cost control and a 0.2 percent increase in newsprint expense. The slight increase in newsprint expense reflected higher newsprint prices that were offset by substantially lower usage.

At USA TODAY, advertising revenues were 7.9 percent lower in the quarter compared with the first quarter of 2006 due, in part, to the absence of Olympic-related ad demand. Paid advertising pages totaled 904 compared with 1,012 in the year-ago quarter.

BROADCASTING

Broadcasting segment results for the quarter include WATL-TV (acquired in August 2006) and KTVD-TV (acquired in June 2006).

Broadcasting revenues (which include Captivate) increased slightly to $183.1 million in the first quarter. This reflected revenue from the acquired television stations, a 16.7 percent increase in Captivate revenues and strong revenue gains for our television stations' online operations, offset by the absence of significant ad demand related to the Olympics. Broadcasting revenues would have been 6.3 percent lower if Gannett had owned the same group of stations in both the first quarters of 2007 and 2006. Reported broadcasting expenses increased 7.3 percent in the quarter. However, on a pro forma basis, broadcasting costs would have been less than 1 percent higher. Operating cash flow was $72.9 million in the first quarter.

Reported television revenues were $176.8 million in the first quarter compared to $177.2 million in the same quarter a year ago.


NON-OPERATING ITEMS

Interest expense was $72.9 million in the first quarter compared to $64.7 million for the same quarter a year ago due to higher interest rates. The increase in other non-operating expense primarily reflects the absence of the gain on the sale of our small ownership interest in the Cincinnati Reds in the first quarter of 2006.

(more)

Subsequent to the end of the quarter, the company announced the sale of the Norwich (CT) Bulletin; the Rockford (IL) Register Star; the Observer-Dispatch in Utica, NY; and The Herald-Dispatch in Huntington, WV for $410 million. The transaction is expected to close in the second quarter of 2007. After closing, all previously reported results for these properties, as well as a gain from the sale, will be included in discontinued operations.

* * * *

At the end of the quarter, Gannett had more than 100 domestic publishing Web sites, including USATODAY.com, one of the most popular newspaper sites on the Web. The company also had Web sites in all of its 19 television markets. In March, Gannett's consolidated domestic Internet audience share was approximately 23.1 million unique visitors reaching 14.6 percent of the Internet audience according to Nielsen//NetRatings. Newsquest is also an Internet leader in the UK where its network of Web sites attracted more than 70 million monthly page impressions from approximately 4.8 million unique users.

All references in this release to "comparable" revenue results and "operating cash flow" are to non-GAAP financial measures. Management believes that this use allows management and investors to analyze and compare the Company's results in a more meaningful and consistent manner. A reconciliation of the non-GAAP operating cash flow amounts to the Company's consolidated statements of income is attached.

As previously announced, the company will hold an earnings conference call at 1:00 p.m. ET today. The call can be accessed via a live Webcast through the Investor Relations section of the company's Web site, www.gannett.com, or listen-only conference lines. U.S. callers should dial 1-800-289-0529 and international callers should dial 913-981-5523 at least 10 minutes prior to the scheduled start of the call. The confirmation code for the conference call is 4153473. To access the replay, dial 1-888-203-1112 in the U.S. International callers should use the number 719-457-0820. The confirmation code for the replay is 4153473. Materials related to the call will be available through the Investor Relations section of the company's Web site Thursday morning.

Gannett Co., Inc. is a leading international news and information company that publishes 90 daily newspapers in the USA, including USA TODAY, the nation's largest-selling daily newspaper. The company also owns nearly 1,000 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company. Newsquest publishes nearly 300 titles, including 18 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.

Certain statements in this press release may be forward looking in nature or "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The forward looking statements contained in this press release are subject to a number of risks, trends and uncertainties that could cause actual performance to differ materially from these forward looking statements. A number of those risks, trends and uncertainties are discussed in the company's SEC reports, including the company's annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward looking statements in this press release should be evaluated in light of these important risk factors.

(more)

Gannett is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media.

For investor inquiries, contact:
Jeffrey Heinz
Director, Investor Relations
703-854-6917
jheinz@gannett.com

For media inquiries, contact:
Tara Connell
Vice President of Corporate Communications
703-854-6049
tjconnel@gannett.com

 

# # #

CONSOLIDATED STATEMENTS OF INCOME
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars (except per share amounts)
                                        Thirteen        Thirteen
                                       weeks ended     weeks ended    % Inc
                                      Apr. 1, 2007    Mar. 26, 2006   (Dec)
Net Operating Revenues:
Newspaper advertising                 $  1,242,878     $ 1,266,891     (1.9)
Newspaper circulation                      323,986         324,050        -
Broadcasting                               183,059         182,575      0.3
Other                                      121,272         109,025     11.2
                                       -----------      ----------   ------
Total                                    1,871,195       1,882,541     (0.6)
                                       -----------      ----------   ------
Operating Expenses:
Cost of sales and operating
  expenses, exclusive of
  depreciation                           1,074,270       1,075,078     (0.1)
Selling, general and
  administrative expenses,
  exclusive of depreciation                325,296         319,234      1.9
Depreciation                                63,571          61,159      3.9
Amortization of intangible assets            8,855           7,764     14.1
                                       -----------      ----------   ------
Total                                    1,471,992       1,463,235      0.6
                                       -----------      ----------   ------
Operating income                           399,203         419,306     (4.8)
                                       -----------      ----------   ------
Non-operating income (expense):
Interest expense                           (72,945)        (64,721)    12.7
Other                                      (11,947)           (176)     ***
                                       -----------      ----------   ------
Total                                      (84,892)        (64,897)    30.8
                                       -----------      ----------   ------
Income before income taxes                 314,311         354,409    (11.3)
Provision for income taxes                 103,700         119,100    (12.9)
                                       -----------      ----------   ------
Net income                            $    210,611     $   235,309    (10.5)
                                       ===========      ==========   ======

Net Income per share-basic                   $0.90           $0.99     (9.1)
                                       ===========      ==========   ======
Net Income per share-diluted                 $0.90           $0.99     (9.1)
                                       ===========      ==========   ======
Dividends per share                          $0.31           $0.29      6.9
                                       ===========      ==========   ======


BUSINESS SEGMENT INFORMATION
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars
                                         Thirteen        Thirteen
                                        weeks ended     weeks ended   % Inc
                                       Apr. 1, 2007    Mar. 26, 2006  (Dec)
Net Operating Revenues:
Newspaper publishing                  $  1,688,136     $ 1,699,966     (0.7)
Broadcasting                               183,059         182,575      0.3
                                       -----------      ----------   ------
Total                                 $  1,871,195     $ 1,882,541     (0.6)
                                       ===========      ==========   ======
Operating Income
(net of depreciation
and amortization):
Newspaper publishing                  $    358,094     $   367,970     (2.7)
Broadcasting                                64,162          71,804    (10.6)
Corporate                                  (23,053)        (20,468)   (12.6)
                                       -----------      ----------   ------
Total                                 $    399,203     $   419,306     (4.8)
                                       ===========      ==========   ======
Depreciation and Amortization:
Newspaper publishing                  $     59,697     $    56,717      5.3
Broadcasting                                 8,723           8,026      8.7
Corporate                                    4,006           4,180     (4.2)
                                       -----------      ----------   ------
Total                                 $     72,426     $    68,923      5.1
                                       ===========      ==========   ======
Operating Cash Flow:
Newspaper publishing                  $    417,791     $   424,687     (1.6)
Broadcasting                                72,885          79,830     (8.7)
Corporate                                  (19,047)        (16,288)   (16.9)
                                       -----------      ----------   ------
Total                                 $    471,629     $   488,229     (3.4)
                                       ===========      ==========   ======
Broadcasting includes results from the company's 23 television stations and
Captivate Network, Inc.  Reported results for the quarter include KTVD-TV in
Denver and WATL-TV in Atlanta which the company acquired during the third
quarter of 2006, creating Gannett's second and third duopolies.  Captivate
is a national news and entertainment network which delivers programming and
full motion video advertising through wireless digital video screens in
elevators of premier office towers.
Operating Cash Flow represents operating income for each of the company's
business segments plus related depreciation and amortization expense.  See
attachment for reconciliation of amounts to the Consolidated Statements of
Income.


NON-GAAP FINANCIAL INFORMATION
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars
"Operating cash flow", a non-GAAP measure, is defined as operating income
plus depreciation and amortization of intangible assets.  Management
believes that use of this measure allows investors and management to
measure, analyze and compare the performance of its business segment
operations at a more detailed level and in a meaningful and consistent
manner.
A reconciliation of these non-GAAP amounts to the company's operating
income, which the company believes is the most directly comparable financial
measure calculated and presented in accordance with GAAP on the company's
consolidated statements of income, follows:
Thirteen weeks ended April 1, 2007
                        Newspaper   Broadcasting   Corporate   Consolidated
                        Publishing                                 Total
Operating cash flow      $417,791      $72,885     $(19,047)     $471,629
Less:
Depreciation              (51,215)      (8,350)      (4,006)      (63,571)
Amortization               (8,482)        (373)           -        (8,855)
                         --------     --------     --------      --------
Operating income         $358,094      $64,162     $(23,053)     $399,203
                         ========     ========     ========      ========
Thirteen weeks ended March 26, 2006
                        Newspaper   Broadcasting   Corporate   Consolidated
                        Publishing                                 Total
Operating cash flow      $424,687      $79,830     $(16,288)     $488,229
Less:
Depreciation              (49,142)      (7,837)      (4,180)      (61,159)
Amortization               (7,575)        (189)           -        (7,764)
                         --------     --------     --------      --------
Operating income         $367,970      $71,804     $(20,468)     $419,306
                         ========     ========     ========      ========





 

 

EX-99 3 exh99-2.htm EXHIBIT 99.2 STATISTICAL REPORT PRESS RELEASE DATED APRIL 19, 2007 News Release

 

News Release

IMMEDIATE RELEASE

Thursday, April 19, 2007

Gannett Co., Inc. Releases March Statistical Report

McLEAN, VA - Gannett Co., Inc. (NYSE: GCI) reported today that total pro forma operating revenues for the third period ended April 1, 2007 declined 0.8 percent compared with the third period in 2006. For comparison purposes, the strengthening exchange rate of the British Pound also affected results for the company's UK operations. If the exchange rate had remained constant year-over-year, total pro forma operating revenue would have been 2.7 percent lower.

March

Pro forma newspaper advertising revenues in March were down 2.0 percent, compared with March 2006. Pro forma assumes all properties presently owned were owned in both periods. If the exchange rate had remained constant year-over-year, total pro forma newspaper advertising would have been 4.1 percent lower.

Pro forma local advertising revenues increased 1.8 percent in the third period. In the U.S., across all products, local ad revenue gains were achieved in the grocery, health, restaurants, telecommunications and office supplies categories while the department stores, furniture, consumer electronics and financial categories declined compared to last year. On a constant currency basis, local advertising would have been 0.5 percent higher.

Pro forma classified revenues declined 5.1 percent in the third period. On a constant currency basis, pro forma classified revenues would have been 8.4 percent lower. Real estate revenues were down 5.6 percent, employment revenues were 4.5 percent lower, and automotive revenues declined 14.6 percent while other classified revenues increased 4.5 percent. If the exchange rate had remained constant year-over-year, real estate would have been 9.2 percent lower, employment would have declined 7.7 percent and automotive would have been down 17.3 percent. Classified results in the UK were better than in the U.S. community newspapers due, in part, to difficult comparisons at the U.S. properties. At our U.S. community newspapers, pro forma classified revenues were 11.1 percent lower for the third period reflecting declines of 15.3 percent in real estate revenues, 10.8 percent in employment revenues and 15.1 percent in automotive revenues. For comparison purposes, real estate was up 31.1 percent and employment was 9.4 percent higher at our domestic community newspapers in March a year ago. Classified revenues at Newsquest in the UK were down 2.7 percent, in pounds. Increases in real estate of 1.8 percent and other classified of 5.1 percent were offset by declines of
1.0 percent in employment and 22.4 percent in automotive.

Pro forma national advertising revenues for the third period were 3.1 percent lower. At USA TODAY, advertising revenues were 3.7 percent lower on paid ad pages of 303 versus 341 last year. In the third period at USA TODAY, growth in the travel, telecommunications, pharmaceutical,

(more)

packaged goods and restaurant categories was offset by weakness in the automotive, entertainment, financial and retail categories.

Pro forma broadcasting revenues, which include Captivate, were 2.4 percent higher for March. Television revenues increased 2.7 percent in the period reflecting a 3.8 percent increase in local revenues and a 1.6 percent decline in national revenues.

Other revenue rose 7.8 percent in the third period due primarily to increases in commercial printing and PointRoll.

First Quarter

For the first quarter of 2007, total pro forma operating revenues were 1.2 percent lower and would have declined 2.8 percent on a constant currency basis reflecting, in part, the absence of $22 million of Olympic revenues and the absence of the final week of December (which was included in the first quarter of 2006), which has been a traditionally strong week for advertising in the U.S. Severe weather in the quarter also held back ad spending.

Pro forma newspaper advertising revenues for the quarter were down 1.8 percent and would have been 3.7 percent lower on a constant currency basis. The company's UK results were stronger than its U.S. results as advertising at our domestic community newspapers declined 4.8 percent while ad revenues in the UK advanced 1.4 percent, in pounds.

For the quarter, pro forma local advertising was 0.6 percent higher and would have been 0.5 percent lower on a constant currency basis. Local advertising in the U.S. declined 0.6 percent for the quarter due in part to the switch of the final week of December.

Pro forma classified revenues for the quarter declined 3.0 percent. Real estate revenues were 1.5 percent lower, employment was down 2.0 percent, automotive declined 13.5 percent while other classified increased 5.1 percent. Classified revenues would have been 6.0 percent lower on a constant currency basis as real estate would have been 4.8 percent lower, employment would have declined 5.0 percent and automotive would have decreased 15.8 percent. Classified revenues were down 9.3 percent at our domestic community newspapers comprised of declines of 11.2 percent in real estate, 8.3 percent in employment and 15.8 percent in automotive revenues. For comparison purposes, real estate classified revenues were up 22.1 percent and employment classified revenues increased 7.4 percent in the first quarter of 2006 at our domestic community newspapers. Classified revenues in the UK, in pounds, were up 2.4 percent in the quarter as real estate and employment advanced 9.1 percent and 3.2 percent, respectively; automotive fell 15.8 percent while other classified increased 7.7 percent.

Pro forma national advertising revenues were 4.8 percent lower for the quarter. At USA TODAY, advertising revenues were down 7.9. Paid advertising pages totaled 904 compared with 1,012 in the year-ago period.

Pro forma broadcasting revenues were down 6.3 percent and television revenues were 6.9 percent lower reflecting primarily the absence of substantial ad demand related to the Olympics in the

(more)


first quarter of 2006. Captivate revenues were up 17 percent for the quarter. Based on current pacings, television revenues for the second quarter of 2007 would lag last year's second quarter in the very low single digits.

Other revenue in the quarter increased 12.0 percent due to higher commercial printing and PointRoll revenues.

* * * *

In addition to the revenue and statistical summary, attached is a chart which shows the consolidated Gannett Online audience share for March from Nielsen//Net Ratings. In March, Gannett's domestic Websites had approximately 23.1 million unique visitors reaching 14.6 percent of the Internet audience.

The pro forma broadcasting revenue statistics include results for KTVD-TV in Denver (acquired in late June 2006 and operated as a duopoly with KUSA-TV) and WATL-TV in Atlanta (acquired in August 2006 and operated as a duopoly with WXIA-TV). Ad linage for Newsquest, Clipper and Gannett Health Care Group are not included in the ad volume statistics. Circulation volume numbers for Newsquest's paid daily newspapers are included in the enclosed statistics, but volume from unpaid daily and non-daily publications is not included in the circulation volume statistics. The revenue and statistical data related to the Muskogee (OK) Phoenix, which was contributed to the Gannett Foundation in April 2006, has been excluded from all periods presented.

Gannett Co., Inc. is a leading international news and information company that publishes 90 daily newspapers in the USA, including USA TODAY, the nation's largest-selling daily newspaper. The company also owns nearly 1,000 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company. Newsquest publishes nearly 300 titles, including 18 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.

Certain statements in this press release may be forward looking in nature or "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The forward looking statements contained in this press release are subject to a number of risks, trends and uncertainties that could cause actual performance to differ materially from these forward looking statements. A number of those risks, trends and uncertainties are discussed in the company's SEC reports, including the company's annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward looking statements in this press release should be evaluated in light of these important risk factors.

Gannett is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media.

Contact: Jeff Heinz
Director, Investor Relations
703-854-6917
jheinz@gannett.com

 

 

GANNETT CO., INC.
REVENUE & STATISTICAL SUMMARY
                         Period 3 (March 5, 2007 - April 1, 2007)
                                                                        %
                              2007            2006         CHANGE    CHANGE
REVENUES:
Advertising:
Local                  $   186,829,000 $   183,572,000  $  3,257,000    1.8
National                    68,259,000      70,424,000    (2,165,000)  (3.1)
Classified                 185,998,000     195,953,000    (9,955,000)  (5.1)
                         -------------    ------------   -----------   ----
Total Advertising      $   441,086,000 $   449,949,000  $ (8,863,000)  (2.0)
                         =============    ============   ===========   ====
Circulation                105,888,000     107,115,000    (1,227,000)  (1.1)
Other revenue               42,188,000      39,124,000     3,064,000    7.8
Broadcasting                63,436,000      61,968,000     1,468,000    2.4
                         -------------    ------------   -----------   ----
Total Revenue          $   652,598,000 $   658,156,000  $ (5,558,000)  (0.8)
                         =============    ============   ===========   ====
VOLUME:
Newspaper Inches:
Local                        2,566,938       2,634,702       (67,764)  (2.6)
National                       289,173         309,415       (20,242)  (6.5)
Classified                   4,096,193       4,355,280      (259,087)  (5.9)
                         -------------    ------------   -----------   ----
Total ROP                    6,952,304       7,299,397      (347,093)  (4.8)
                         =============    ============   ===========   ====
Preprint Distribution
(in thousands)               1,005,053         956,971        48,082    5.0
                         =============    ============   ===========   ====
NET PAID CIRCULATION:
Morning (w/USAT)             7,111,388       7,196,961       (85,573)  (1.2)
Evening                        875,409         904,147       (28,738)  (3.2)
                         -------------    ------------   -----------   ----
Total Daily                  7,986,797       8,101,108      (114,311)  (1.4)
                         =============    ============   ===========   ====
Sunday                       6,176,720       6,433,923      (257,203)  (4.0)
                         =============    ============   ===========   ====
                         Year-to-Date through April 1, 2007
                                                                        %
                              2007            2006         CHANGE    CHANGE
REVENUES:
Advertising:
Local                  $   522,371,000 $   519,023,000 $   3,348,000    0.6
National                   195,322,000     205,078,000    (9,756,000)  (4.8)
Classified                 525,185,000     541,627,000   (16,442,000)  (3.0)
                         -------------    ------------   -----------   ----
Total Advertising      $ 1,242,878,000 $ 1,265,728,000 $ (22,850,000)  (1.8)
                         =============    ============   ===========   ====
Circulation                323,986,000     323,877,000       109,000    0.0
Other revenue              121,272,000     108,270,000    13,002,000   12.0
Broadcasting               183,059,000     195,277,000   (12,218,000)  (6.3)
                         -------------    ------------   -----------   ----
Total Revenue          $ 1,871,195,000 $ 1,893,152,000 $ (21,957,000)  (1.2)
                         =============    ============   ===========   ====
VOLUME:
Newspaper Inches:
Local                        7,819,337       8,023,838      (204,501)  (2.5)
National                       852,542         958,894      (106,352) (11.1)
Classified                  12,457,177      13,283,518      (826,341)  (6.2)
                         -------------    ------------   -----------   ----
Total ROP                   21,129,056      22,266,250    (1,137,194)  (5.1)
                         =============    ============   ===========   ====
Preprint Distribution
(in thousands)               2,851,632       2,907,832       (56,200)  (1.9)
                         =============    ============   ===========   ====
NET PAID CIRCULATION:
Morning (w/USAT)             7,025,809       7,086,063       (60,254)  (0.9)
Evening                        876,959         906,875       (29,916)  (3.3)
                         -------------    ------------   -----------   ----
Total Daily                  7,902,768       7,992,938       (90,170)  (1.1)
                         =============    ============   ===========   ====
Sunday                       6,227,209       6,404,870      (177,661)  (2.8)
                         =============    ============   ===========   ====
Note:  The above revenue amounts and statistics have been restated to
       include all companies presently owned, including KTVD-TV in Denver
       (acquired in late June 2006 and operated as a duopoly along with
       KUSA-TV), WATL-TV in Atlanta (acquired in August 2006 and operated as
       a duopoly along with WXIA-TV).  The revenue and statistical data
       related to the former Gannett owned newspaper the Muskogee (OK)
       Phoenix which was contributed to the Gannett Foundation in April
       2006, has been excluded from all periods presented.
       Operating results from the company's newspaper in Tucson, which
       participates in a joint operating agency, are accounted for under the
       equity method of accounting and are reported as a single amount in
       other operating revenues.  Advertising linage statistics from this
       newspaper are not included above, however, circulation volume
       statistics are included.
       Newsquest is a regional newspaper publisher in the United Kingdom
       with nearly 300 titles, including paid and unpaid daily and
       non-daily products. Circulation volume statistics for Newsquest's 17
       paid-for daily newspapers are included above.  Circulation volume
       statistics for the Sunday Herald are included above in the Sunday
       statistics.  Circulation volume statistics for Newsquest's unpaid
       daily and non-daily publications are not reflected above.
       Advertising linage for Newsquest publications is not reflected above.
       Circulation volume and advertising linage statistics for non-daily
       products, including Gannett Healthcare Group and Clipper Magazine
       are not reflected above.

 


Gannett Online Internet Audience
March 2007


Nielsen//Net Ratings
Home/Work Panel Combined
					Unique Visitors		Percentage Reach of
					  Per Month		 Internet Audience
Gannett Online				  23,079,000		       14.6%		
 
 
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