McClatchy Reports Fourth Quarter 2012 Earnings
Posted: 2/7/2013 | By: McClatchy
SACRAMENTO, Calif. -- The McClatchy Company (NYSE: MNI) today reported a net loss in the fourth quarter of 2012 of $30.0 million or 35 cents per share, including a $60.0 million after-tax loss on debt refinancing. In the fourth quarter of 2011 the company reported net income of $42.0 million or 49 cents per diluted share.
The company's fiscal 2012 reporting period is a 53-week year compared to a 52-week year in 2011, and as a result, the fiscal fourth quarter of 2012 includes 14 weeks compared to 13 weeks in the 2011 fiscal fourth quarter. The company estimates that the reported net loss in 2012 was reduced by approximately $4.0 million because of the additional week being reported.