Gannett Co., Inc. (GCI) reported that its first-quarter net income attributable to the company declined to $68.22 million, from $90.49 million in the same quarter last year. Earnings per share, on a GAAP basis were $0.28 for the first quarter of 2012 compared to $0.37 for the first quarter last year.
Excluding special items in 2012 and 2011, first quarter earnings per share were $0.34 compared to $0.41 for the same quarter in 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating Revenues for the quarter declined to $1.22 billion from $1.25 billion in the prior year quarter. Seven analysts had consensus revenue estimate of $1.24 billion for the quarter.
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