Fourth Quarter 2018 Consolidated Results: • Operating revenues were $751.4 million, compared to $854.2 million in the fourth quarter of 2017. • Unfavorable changes in foreign currency exchange rates negatively impacted revenues by $4.3 million. • Same store, day adjusted operating revenues declined 8.6% year-over-year. Further adjusting for day trades as compared to the year-ago fourth quarter (one less Sunday, one more Monday), which impacts our print advertising and circulation revenues, the decline was 7.4%, an improvement of over 70 bps from the third quarter 2018 trend. • Total digital revenues were $272.3 million, or approximately 36% of total revenue. • GAAP net loss was $14.2 million, including $56.3 million of after-tax restructuring, asset impairment charges and other costs. Click read more below for additional detail.
Fourth Quarter 2020 Consolidated Results
• Fourth quarter revenues of $875.4 million rose 25.2% as compared to the prior year quarter reflecting the acquisition of Legacy Gannett. ◦ Same store pro forma revenues (as defined and reconciled on Table No. 5 below) decreased 16.3%, due to unfavorable impacts resulting from the COVID-19 pandemic and general trends adversely impacting the publishing industry. This is an improvement of 330 basis points over the third quarter 2020 trend.
• Digital advertising and marketing services revenues reached $223.3 million in the fourth quarter, or 25.5% of total revenues.
• Net loss attributable to Gannett of $122.2 million in the fourth quarter reflects a $74.3 million non-cash loss on the derivative associated with our convertible notes and a $42.1 million loss associated with the early extinguishment of debt.
Full Year 2020 Consolidated Results
• Full year 2020 revenues of $3.406 billion rose 82.3% as compared to the prior year reflecting the acquisition of Legacy Gannett. ◦ Same store pro forma revenues decreased 18.5%, due to unfavorable impacts resulting from the COVID-19 pandemic and general trends adversely impacting the publishing industry.
• Digital advertising and marketing services revenues reached $808.4 million in 2020, or 23.7% of total revenues.
• Net loss attributable to Gannett of $670.5 million in 2020 reflects a second quarter non-cash write-down related to the second quarter 2020 impairment of goodwill and intangible assets of $393.4 million, as well as a $74.3 million noncash loss on the derivative associated with our convertible debt and a $43.8 million loss associated with the early extinguishment of debt, offset by non-operating pension income of $72.1 million.
details at: https://s1.q4cdn.com/307481213/files/doc_financials/2020/q4/GCI-Q4-2020-EX-99.1-Earnings-Release-FINAL.pdf