Gannett Co., Inc. (GCI) reported that its fourth-quarter net income attributable to the company declined to $103.09 million or $0.44 per share, from $116.94 million or $0.49 per share in the same quarter last year.
Results for the fourth quarter of 2012 included special charges affecting operating income. Non-cash asset impairments, efficiency-driven facility consolidation and workforce restructuring charges totaled $114.6 million.
Results for the fourth quarter of 2011 included special charges affecting operating income of $78.4 million.
Non-GAAP Income attributable to the company for the quarter increased 20.2 percent to $207.3 million from $172.4 million in 2011.
Excluding special items in both years, fourth quarter earnings per share were $0.89 in 2012 compared to $0.72 in the fourth quarter of 2011, a 23.6 percent increase. Analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share for the quarter. Analysts' estimates typically exclude special items.
Net operating revenue for the quarter rose 9.4% to $1.52 billion from $1.39 billion in the prior year quarter. Nine analysts had consensus revenue estimate of $1.49 billion for the quarter.
by RTT Staff Writer
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