Gannett Co., Inc. (NYSE:GCI)– Today’s First Hour Top Percentage Mover
Gannett Co., Inc. (NYSE:GCI) – Reports Second Quarter Results
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Gannett Co., Inc. (NYSE: GCI) reported today that 2009 second quarter earnings per diluted share were $0.30 compared to a net loss per share of $10.03 for the second quarter of 2008. Results for both quarters included several special items noted below. Earnings per diluted share for the second quarter of 2009, excluding those items, were $0.
Results for the second quarter of 2009 include: a $42.7 million pre-tax gain related to the company's debt exchange ($26.1 million after-tax or $0.11 per share); $16.6 million in pre-tax costs related to workforce restructuring and facility consolidations ($10.3 million after-tax or $0.04 per share); $47.4 million of pre-tax non-cash charges related primarily to asset impairments in the company's publishing segment ($29.6 million after-tax or $0.13 per share); and a $28.0 million non-cash charge for asset write-downs ($24.2 million after-tax or $0.10 per share).
After touching an intraday high of $21.68 in an opening trade, the Stock is currently trading at $4.31 moved up about 24% on over 10 million shares. In the last 52-week, the stock has been trading within a range of $1.85-$21.68.
About Gannett Co., Inc. Gannett Co., Inc. is an international news and information company. In the United States, the Company publishes 85 daily newspapers, including USA TODAY, and nearly 850 non-daily publications. Along with each of its daily newspapers, the Company operates Websites offering news, information and advertising that is customized for the market served and integrated with its publishing operations. Newspaper publishing operations in the United Kingdom, operating as Newsquest, include 17 paid-for daily newspapers, almost 200 non-daily publications, locally integrated Websites and classified business Websites with national reach. The company has three principal business segments: publishing, digital and broadcasting.
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