Gannett Warns Of More Declines For Q3

Gannett (NYSE: GCI) is warning investors that profits and revenues are continuing to fall. The McLean, Va.-based owner of USA Today and dozens of other local papers expects net income, excluding special charges, to range between $93 million ($0.39 per share) and $100 million ($0.42 per share) for the third quarter. (In Q308, Gannett posted profits of $158 million, or $0.69 per share). On the revenue front, Gannett anticipates the final tally to come in somewhere between $1.31 billion and $1.32 billion—either way, it’ll be down nearly 20 percent from last year’s $1.64 billion. (from PaidContent.org)

I am getting tired of posting bad news.