Publishers’ revenue increased by $143.2 million (+6.2%) for the first quarter of 2018 (Jan - March) compared to the same period in 2017. These numbers include sales for all tracked categories (Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses). The increases are attributed primarily to strong growth in trade (consumer) books in January and February. Trade books increased by $94.7 million (+6.3%) to $1.59 billion in the first quarter of 2018 compared to the same period in 2017, with growth in Adult Books, Children & Young Adult Books and Religious Presses. Publishers also saw increased revenue for Professional Books, University Presses and Higher Ed Course Materials. Click Read More below for additional information.
Gannett Co., Inc. (NYSE: GCI) (“Gannett” or “company” or “we” or “our”) today reported second quarter 2018 financial results for the period ended June 30, 2018 (1).
“We are excited by the continued momentum in our digital business driven by strong growth in our marketing services and national media businesses,” said Robert J. Dickey, president and chief executive officer. “On July 2nd, we successfully closed the WordStream acquisition, which adds more software-as-a-service solutions to our digital marketing services product portfolio and will further propel our digital transformation that is already well underway.”
“The strong margin improvement at our ReachLocal segment and the continued focus on driving efficiencies within our publishing and corporate operations reflect strong execution on our objectives,” said Ali Engel, senior vice president and chief financial officer. “Adjusted EBITDA grew year-over-year and we delivered better than expected margin expansion in the quarter. We are increasing our Adjusted EBITDA guidance range for the year as a result of our stronger first-half performance, combined with the integration of WordStream.”
Second Quarter 2018 Consolidated Results (2)
• Operating revenues were $730.8 million, compared to $774.5 million in the second quarter of 2017.
• Favorable changes in foreign currency exchange rates benefited revenues by $4.7 million.
• Same store operating revenues declined 7.5% year-over-year, consistent with the first quarter decline of 7.2%.
• Total digital revenues increased 8% to $260.9 million, or approximately 36% of total revenue.
• GAAP net income was $16 million, including $22.8 million of after-tax restructuring, asset impairment charges and other costs.
more detail at: https://investors.gannett.com/press-release/gannett-reports-second-quarter-results