Gannett Posts Modest Q2 Profit
Gannett Co. reported a modest profit on its Q2 earnings statement of $.30 per share, compared to a loss of $10.03 per share in the same quarter last year, and up from 25 cents per share in Q1 2009.
Gannett was able to reduce operating expenses by 67 percent, most of which was a write-down of $2.8 billion in 2008. But not including the write-down, the company says it reduced publishing expenses by 20.3 percent through furloughs, layoffs, and a reduction in newsprint use.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in