Gannett Co., Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 27, 2015; Reports Impairment Charges for the Quarter Ended December 27, 2015; Provides Capital Expenditure and Tax Rate Guidance for the Full Year 2016
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%.