McClatchy Reports Second Quarter Earnings

By: Press Release | The McClatchy Co.

The McClatchy Company (NYSE-MNI) today reported second quarter 2014 income from continuing operations of $91.6 million, or $1.03 per share compared to income from continuing operations in the 2013 second quarter of $11.0 million, or $0.13 per share.

McClatchy’s results included, among other items, a combined pre-tax gain of $145.9 million primarily from its share of the gain from Classified Ventures’ sale of and to a lesser extent a gain on the sale of its 50% partnership interest in McClatchy-Tribune Information Services (“MCT”). Excluding these gains and the net impact of certain other items discussed below, McClatchy’s adjusted income from continuing operations was $2.8 million. Income from continuing operations, adjusted for similar items, was $10.3 million in the second quarter of 2013.

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