Gannett Reports Fourth Quarter and Full-Year 2018 Results
MCLEAN, Va.--(BUSINESS WIRE)--Feb 20, 2019--Gannett Co., Inc. (NYSE:GCI) (“Gannett” or “company” or “we” or “our”) today reported fourth quarter and full-year 2018 financial results for the period ended December 31, 2018 (1).
“We were pleased to see accelerated growth in our Publishing segment digital advertising and marketing services revenue in the quarter, driven by strong national advertising across the USA TODAY NETWORK,” said Robert J. Dickey, president and chief executive officer. “Additionally, our ReachLocal segment executed solid revenue performance and margin expansion, fueled by our recent WordStream acquisition.”
Dickey continued, “During 2018, our B2B organization implemented a strategic sales transformation that has positioned us well for future expansion and our B2C organization delivered strong audience gains while also winning three Pulitzer prizes. As we look forward to 2019, we remain committed to producing award-winning journalism, driving growth across our digital businesses to reach a key milestone of more than half our advertising revenues from digital sources and continuing our cost rationalization efforts to support our transformation.”
Fourth Quarter 2018 Consolidated Results (2)
Fourth Quarter 2018 Publishing Segment
Fourth Quarter 2018 ReachLocal Segment
Fourth Quarter 2018 Cash Flow
For 2019, the company is providing the following outlook:
Conference Call Information
The company will hold a conference call at 10:00 a.m. ET today to discuss its fourth quarter results. The call can be accessed via a live webcast through the company’s investor site, http://investors.gannett.com/, or listen-only conference lines. U.S. callers should dial 855-462-1958 and international callers should dial 503-343-6635 at least 10 minutes prior to the scheduled start of the call. The confirmation code for the conference call is 3959279. A conference call replay will be available through March 21, 2019. U.S. callers should dial 855-859-2056 and international callers should dial 404-537-3406.
Forward Looking Statements
This press release contains certain forward-looking statements regarding business strategies, market potential, future financial performance and other matters. Forward-looking statements include all statements that are not historical facts. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of our management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Whether or not any such forward-looking statements are in fact achieved will depend on future events, some of which are beyond our control. The matters discussed in these forward-looking statements are subject to a number of risks, trends, uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. These factors include, among other things:
A further description of these and other important risks, trends, uncertainties and other factors is provided in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s annual report on Form 10-K for fiscal year 2017. Any forward-looking statements should be evaluated in light of these important risk factors. The company is not responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures
This press release also contains a discussion of certain non-GAAP financial measures that the company presents to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in the tables accompanying this press release.
Gannett Co., Inc. (NYSE: GCI) is an innovative, digitally focused media and marketing solutions company committed to strengthening communities across our network. With an unmatched local-to-national reach, Gannett touches the lives of more than 125 million people monthly with our Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. Gannett brands include USA TODAY NETWORK with the iconic USA TODAY and more than 100 local media brands, digital marketing services companies ReachLocal, WordStream and SweetIQ, and U.K. media company Newsquest. To connect with us, visit www.gannett.com.
USE OF NON-GAAP INFORMATION
The company uses non-GAAP financial performance and liquidity measures to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures, which may not be comparable to similarly titled measures reported by other companies, should not be considered in isolation from or as a substitute for the related GAAP measures and should be read together with financial information presented on a GAAP basis.
The company defines its non-GAAP measures as follows:
The company uses non-GAAP financial measures for purposes of evaluating its performance and liquidity. Therefore, the company believes that each of the non-GAAP measures presented provides useful information to investors by allowing them to view our businesses through the eyes of our management and Board of Directors, facilitating comparison of results across historical periods, and providing a focus on the underlying ongoing operating performance of our business. Many of our peer group companies present similar non-GAAP measures to better facilitate industry comparisons.
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CONTACT: For investor inquiries:
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The Blueshirt Group
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VP, Corporate Events & Communications
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: COMMUNICATIONS ADVERTISING MARKETING PUBLISHING OTHER COMMUNICATIONS
SOURCE: Gannett Co., Inc.
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PUB: 02/20/2019 06:55 AM/DISC: 02/20/2019 06:55 AM