Gannett Co., Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 24, 2017. For the quarter, the company reported total operating revenues of $744,274,000 compared to $772,321,000 a year ago. Operating income was $11,778,000 compared to operating loss of $25,838,000 a year ago. Income before income taxes was $6,243,000 compared to loss before income taxes of $33,184,000 a year ago. Net income was $23,044,000 or $0.20 per basic and diluted share compared to net loss of $23,961,000 or $0.21 per diluted share a year ago. Adjusted EBITDA (non-GAAP basis) was $73,853,000 compared to $58,029,000 a year ago. Capital expenditures were $17,053,000 compared to $18,865,000 a year ago. Adjusted net income (non-GAAP basis) was $18,388,000 or $0.16 per diluted share compared to $7,596,000 or $0.06 per diluted share a year ago. Net cash flow from operating activities (GAAP basis) was $34,147,000. Free cash flow (non-GAAP basis) was $17,094,000.

For the nine months, the company reported total operating revenues of $2,292,238,000 compared to $2,180,480,000 a year ago. Operating income was $23,315,000 compared to $50,354,000 a year ago. Income before income taxes was $883,000 compared to $32,273,000 a year ago. Net income was $20,478,000 or $0.18 per diluted share compared to $28,116,000 or $0.24 per diluted share a year ago. Adjusted EBITDA (non-GAAP basis) was $227,188,000 compared to $230,050,000 a year ago. Capital expenditures were $46,884,000 compared to $45,001,000 a year ago. Adjusted net income (non-GAAP basis) was $55,397,000 or $0.48 per diluted share compared to $86,699,000 or $0.73 per diluted share a year ago. Net cash flow from operating activities (GAAP basis) was $163,691,000. Free cash flow (non-GAAP basis) was $116,807,000.

For the full year 2017, the company reiterates its prior revenue guidance for 2017 of $3.15 to $3.22 billion and its Adjusted EBITDA guidance for 2017 for $360 to $365 million. Additionally, for the full year 2017, the company expects the following: Capital expenditures of approximately $60 to $65 million, not including real estate projects and an effective tax rate of 30% to 32%, on a non-GAAP basis.