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McClatchy reports first quarter loss, higher digital ad revenue

Post by John Gillie / The News Tribune on April 25, 2012 at 11:45 am with No Comments »
April 25, 2012 12:17 pm

The News Tribune’s parent company, Sacramento-based McClatchy Company, today reported a first quarter loss of $2.1 million, or two cents a share.

That compares with a loss of $2 million in the first quarter of 2011.

The nationwide newspaper chain said its advertising revenues were down 6.8 percent from 2011’s first quarter, but circulation revenues were up by .4 percent. Digital advertising revenues increased by 2.7 percent in the quarter to 22.2 percent of the chain’s total advertising revenues.

Operating cash expenses excluding one-time restructuring costs declined by $9.7 million or 4.1 percent for the quarter.

“We continue to make progress on our digital initiatives and the strong revenue results in the quarter demonstrates that digital continues to be a high growth opportunity for the company,” said McClatchy chief executive officer Gary Pruitt.

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