The McClatchy Company (NYSE: MNI) showed some positive signs as it continues to struggle with the circulation and ad woes that plague the newspaper industry at large. In contrast to Q406′s net income loss of $279.2 million, the Sacramento, CA-based publisher posted $30.1 million ($.37/share) in profits. Advertising revenues meanwhile were down 16.6 percent to $489.4 million in Q4 from last year’s $587.1 million. Combined Q4 ad and circulation revenues fell 14.9 percent year-over-year, which the company said were in line with expectations. McClatchy did not break out details of how its online ventures fared during the quarter or the full year in its pre-market release. Some of the details it did provide before the call included:
– The company posted a loss of $8.3 million from equity investments in newsprint companies compared to income from investments of $4.9 million in Q406. The internet properties in which the company has investments – which includes its 14.4 percent stake in recruitment site Careerbulilder, a 25.6 percent stake in Classified Ventures; it also owns cars.com, apartments.com and Real Cities – were profitable during the quarter, though McClatchy didn’t offer specifics about its online performance.
– For the full year, revenues from continuing operations in 2007 were $2.3 billion compared to $1.7 billion in 2006, a 35.3 percent gain. The increase was related to the addition of the retained Knight Ridder newspapers McClatchy bought Q306. McClatchy also experienced a preliminary loss from continuing operations last year of $1.26 billion ($15.40/share), which included impairment charges from the first three quarters of 2007.