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Gannett net income drops; revenue rises

8:53 PM, Feb. 4, 2013  |  Comments
The Press-Gazette Media building in downtown Green Bay.
The Press-Gazette Media building in downtown Green Bay.
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Gannett Co., the media and marketing company that owns Press-Gazette Media in Green Bay, said Monday that its net income for the fourth quarter fell, but greater broadcasting and digital ad sales drove its revenue higher.

The company said it earned $103.09 million, or 44 cents per diluted share, in the quarter vs. $116.94 million, or 49 cents a year earlier. Excluding special items, the company said fourth-quarter profit amounted to 89 cents a share vs. 72 cents a year earlier, up 23 percent.

Net operating revenue totaled $1.52 billion, vs. $1.39 billion in the 2011 quarter.

"For the year, we achieved our first year-over-year increase in company-wide revenue since 2006," said Gannett Chief Executive Officer Gracia Martore. "During the fourth quarter and for the full year, our broadcasting business delivered record revenue and profitability."

Local publishing circulation revenue in the U.S. also increased for the third straight quarter, she said.

For all of 2012, Gannett earned $1.79 per diluted share, vs. $1.89 in 2011. Revenue rose 2.2 percent to $5.35 billion.

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