Gannett July revenue slips 4.3 percent |
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Mon, 20 Aug 2007 14:32
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MCLEAN, Va. (AP) - Gannett Co., which publishes USA Today, said Monday its July revenue dropped 4.3 percent on weakness in classified and national advertising, along with a continued decline in broadcasting revenue.Pro forma operating revenue for the period ended Aug. 5 fell to $626.1 million from $654.5 million in the prior year. The company's U.K. operations benefited from an increase in the value of the British pound.Pro forma assumes all properties currently owned were owned in both periods.Total newspaper ad revenue slid 6.1 percent to $408.2 million on a 9.1 drop in national advertising and an 8.3 percent decline in classified advertising.At USA Today, ad sales slipped 15.9 percent on fewer paid ad pages.Within the classified ad category, real estate sales fell 11 percent while automotive sales slumped 13.3 percent. Employment revenue declined 7.2 percent.Broadcasting revenue slipped 4.6 percent to $65 million due to fewer political ads. Television revenue dipped 5.5 percent on lower local and national revenue.For the year to date, total revenue is down 2.9 percent, with ad sales off 4 percent and broadcasting revenue down 6.2 percent.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Gannett June revenue falls 