Gannett Co., Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 27, 2015. For the quarter, the company reported total operating revenues of $739,344,000 against $818,932,000 a year ago. This decline is partially due to approximately $16.8 million related to the reporting of sales of certain third party digital advertising products on a net basis, $8.8 million from the reclassification of certain customer credits, $9.1 million of prior year revenues related to exited businesses as well as $4.4 million of unfavorable foreign currency exchange rate changes. Operating income was $38,513,000 against $80,013,000 a year ago. Income before income taxes was $33,624,000 against $87,124,000 a year ago. Net income was $20,351,000 or $0.17 per share diluted against $66,860,000 or $0.58 per share basic and diluted a year ago. Adjusted operating income (Non-GAAP) was $102,575,000 against $127,411,000 a year ago. Adjusted EBITDA was (Non-GAAP) was $126,347,000 against $154,259,000 a year ago. Adjusted net income was $62,813,000 against $96,858,000 a year ago. Adjusted earnings per share – diluted were $0.53 against $0.84 a year ago. Net cash flow from operating activities was $78,206,000. Capital expenditures were $23,034,000, primarily for technology investments and real estate efficiency projects.

For the nine months, the company reported total operating revenues of $2,885,012,000 against $3,171,878,000 a year ago. Operating income was $169,431,000 against $262,331,000 a year ago. Income before income taxes was $193,975,000 against $278,265,000 a year ago. Net income was $146,091,000 or $1.25 per share diluted against $210,705,000 or $1.83 per share basic and diluted a year ago. Adjusted operating income (Non-GAAP) was $283,963,000 against $361,148,000 a year ago. Adjusted EBITDA was (Non-GAAP) was $391,515,000 against $472,211,000 a year ago. Adjusted net income was $209,087,000 against $273,322,000 a year ago. Adjusted earnings per share – diluted were $1.79 against $2.38 a year ago. Net cash flow from operating activities was $231,020,000. Capital expenditures were $53,979,000.

For the quarter, the company reported asset impairment charges of $25,512,000 against $3,950,000 a year ago.

For the full year 2016, without the impact of the pending acquisition of JMG, the company expects capital expenditures of $50 million-$60 million, Depreciation and amortization of approximately $110 million, Effective tax rate to be between 31%-33%.