McClatchy Reports Third Quarter 2012 Earnings

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By: McClatchy

– Advertising and total revenue trends in third quarter 2012 improve from second quarter 2012
– Digital-only advertising revenues up 12.7% from third quarter 2011
– Advertising from sources outside of traditional newspaper grew to 36.7% of total advertising
– Cash expenses decline by 1.3% from third quarter 2011, excluding restructuring-related charges
– Digital subscription program expected to contribute more than $20 million to 2013 revenues

The McClatchy Company (NYSE: MNI) today reported net income in the third quarter of 2012 of $5.1 million or 6 cents per share.  In the third quarter of 2011 the company reported net income of $9.4 million or 11 cents per share.

Revenues in the third quarter of 2012 were $287.5 million, down 4.2% from the third quarter of 2011. Advertising revenues were $212.0 million, down 5.4% from 2011, and circulation revenues were $62.8 million, down 2.0%. Total digital advertising revenues grew 2.7% in the third quarter of 2012, with digital-only advertising revenues up 12.7% from the 2011 quarter. Digital advertising represented 22.9% of total advertising revenues in the third quarter of 2012 compared to 21.1% of total advertising revenues in the third quarter of 2011.

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