MCCLATCHY CO. REPORTS 16.3% HIGHER EARNINGS
April 25, 2000
By: Staff reports
California, Carolina Papers Had Strongest Growth
The McClatchy Co. reported earnings rose 16.3% to $15.8 million in the first quarter
of 2000 on improved ad revenue growth, especially at its California and Carolina
papers, and lower newsprint prices.
Earnings per share of 35 cents met a consensus estimate of financial analysts polled
by First Call Corp.
Total revenue rose 3.2% to $266.6 million, with ad revenue up 3.8% and circulation
revenue down 1.3%.
President and CEO Gary Pruitt said the Sacramento, Calif.-based company was pleased
with the results, despite slower ad revenue growth due to the late Easter
this year.
Circulation was up 1% daily, 0.7% Sunday, in the quarter. The McClatchy Co. publishes
11 dailies and 13 community newspapers.
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Staff reports
Previous 1st quarter earnings reports:
WASHINGTON POST CO. PROFITS FALL 47% (04/25/00)
CLASSIFIED, WEB REVENUE DRIVE RESULTS AT LEE (04/21/00)
KNIGHT RIDDER EARNINGS UP 9.6% (04/20/00)
CENTRAL EARNINGS BEATS ESTIMATES (04/20/00)
TRIBUNE POSTS RECORD EARNINGS (04/17/00)
NEW YORK TIMES CO. STARTS 2000 RIGHT (04/14/00)
DOW JONES BLOWS AWAY EXPECTATIONS (04/12/00)
MEDIA GENERAL REPORTS 31% EPS INCREASE (04/11/00)
CATEGORY TV LEADS SCRIPPS EARNINGS (04/11/00)
GANNETT REPORTS FIRST QUARTER EARNINGS (04/10/00)
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