Gannett (NYSE: GCI) reported that 1Q total operating revenues came in at $1.87 billion compared to $1.88 billion from 1Q06. Net income fell 10 percent to $210.6 million in 1Q from $235.3 in the same period a year ago. The company said the difference was to due to the revenue boost provided by the Olympics in January ‘06. Gannett also cited softer advertising demand at its U.S. newspapers. In particular, USA Today’s ad revenues were 7.9 percent lower in 1Q, year-over-year. The paper’s paid ad pages totaled 904 compared with 1,012 in the year-ago quarter. Gannett also reported:
—The overall newspaper segment’s operating revenues totaled $1.69 billion for the first quarter, a 0.7 percent decline from 1Q06. Reported advertising revenues were down 1.9 percent to $1.24 billion for the quarter while circulation revenue was unchanged at $324.0 million.
—By the end of the quarter, Gannett had more than 100 domestic publishing websites. The company also had sites in all of its 19 television markets. In March, Gannett’s consolidated domestic internet audience share was about 23.1 million unique visitors reaching 14.6 percent of the online audience, the company said, citing figures from Nielsen//NetRatings. In the U.K., its Newsquest website network attracted more than 70 million monthly page impressions from approximately 4.8 million unique users. Earnings release | Webcast