McClatchy 2Q Profit Plummets
McClatchy (MNI), which publishes 30 daily papers and many non-dailies across the U.S., today reported an adjusted second-quarter profit of $8.6 million, down from $25.2 million in the year-ago quarter. Including special items like tax items and restructuring charges, the company posted net income of $7.3 million, vs. $42 million in the second quarter of 2009.
Revenue fell 6.4% year over year to $342.0 million. Ad revenue fell 8.2% to $260.5 million. Circulation revenue slipped 2.4%
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