Gannett Co. Reports Strong Q4 Results; Shares Fall Sharply on Outlook (GCI)

Gannett Co. Inc. (NYSE: GCI), today, reported strong results for its fourth quarter. However, shares of the McLean, Virginia-based company fell sharply as it offered a cautious outlook.

Key Points

• Gannett reports record revenue and profitability for Broadcasting segment in fourth quarter
• Revenue growth of 9% in the fourth quarter
• Non-GAAP earnings rise 20% in fourth quarter
• Broadcasting segment to see some unfavorable year-over-year comparisons in the first quarter of 2013 due to the shift of the Super Bowl to CBS from NBC

Commenting on the fourth-quarter results, Gannett President and CEO, Gracia Martore said that the company is proud of its strong operating results in the fourth quarter with growth in revenue and margin expansion driving strong cash flow. Martore further said that the company enters 2013 with its business performing well and poised for even greater success going forward.

CFO Victoria Harker, however, warned that the company’s Broadcasting segment could see some unfavorable year-over-year comparisons in the current quarter due to the shift of the Super Bowl to CBS from NBC.

For the fourth quarter of 2012, Gannett reported fourth-quarter profit of $103.1 million, or $0.44 per share, compared to $116.9 million, or $0.49 per share reported for the same period in the previous year. Excluding one-time items, GCI reported a profit of $0.89 per share, compared to $0.72 per share reported for the same period in the previous year. Revenue for the quarter stood at $1.52 billion.

Despite the strong results, GCI shares have fallen sharply on the company’s outlook. The stock fell to an intra-day low of $18.38 earlier today. At last check, it was down 5.74% to $18.70 on above average volume of 5.62 million.

About Gannett Co. Inc.

McLean, Virginia-based Gannett Co. Inc. is an international media and marketing solutions company.

More Posts by this author

• Ester Lauder’s Q2 Profits Soar 13%, Boosts Full-Year Earnings Guidance (EL)
• Stocks Extend Gains, European Equities End Higher
• Forex Market Update: Euro Bounces Back
• Stocks Edge Higher in Early Trading
• Liberty Global in Acquisition Talks with Virgin Media (LBTYA, VMED)
• BP Shares Gain as Q4 Profit Beats Beat Street Estimates (BP)
• Edwards Lifesciences Shares Gain after Company Reports Q4 Results (EW)

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.