Post-Earnings Coverage - Gannett

LONDON, November 6, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on Gannett Co. Inc. (NYSE: GCI). On October 20, 2014, the company reported its financial results for Q3 FY14 (period ended September 28, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Gannett Co. Inc. During Q3 FY14, the company's net operating revenues increased 15.2% on a Y-o-Y basis and its non-GAAP diluted EPS saw a 37% growth from the preceding year quarter. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Gannett Co. Inc. reported net operating revenues of $1.44 billion, compared to $1.25 billion in the same period last year. The company's net operating revenues during the reported quarter came above Bloomberg analysts' forecast of $1.43 billion. The increase in the company's overall revenues for Q3 FY14 reflects strong growth in its Broadcasting Segment which reported a massive 105% surge in revenue, primarily due to acquisitions and considerably higher political and retransmission revenues. Further, the operating revenues were driven by significant improvement in the Digital Segment of 4.4% Y-o-Y, which were attributable to higher revenues at CareerBuilder, reflecting strong sales of its human capital software-as-a-service products. Gannett's Publishing Segment revenues, on the other hand, saw a 3.6% decline in Q3 FY14. The free research on GCI can be downloaded as in PDF format at:

www.Investor-Edge.com/GCIFreeReport

On GAAP basis, Gannett Co. Inc.'s operating income increased to $270.52 million in Q3 FY14, from $171.70 million in the prior-year quarter. Further, GAAP net income broadened to $118.52 million, or $0.51 per diluted share, in Q3 FY14, from $79.75 million, or $0.34 per diluted share, in the same quarter last year.

Adjusted EBITDA rose 46.6% to $341.72 million during Q3 FY14, from $233.09 million in the year-ago quarter. Further, non-GAAP net income increased 36.6% Y-o-Y to $136.32 million, and non-GAAP earnings per diluted share of $0.59 per diluted share increased 37.2% Y-o-Y in Q3 FY14, reflecting in part the expansion of the company's television station portfolio.

Analysts from Bloomberg had expected the company to report net income of $118.00 million, or $0.55 per diluted share in Q3 FY14.Sign up and read the free analyst's notes on GCI at:

www.Investor-Edge.com/GCI-06112014

On August 05, 2014, the company announced its plan to create two publicly traded companies. One will be exclusively focused on its Broadcasting and Digital businesses, and the other on its Publishing business. Additionally, the company announced that it has signed a definitive agreement to acquire full ownership of Cars.com, and acquired the 73% interest it did not already own in Classified Ventures LLC, which owns Cars.com, for $1.8 billion in cash on October 01, 2014. Gracia Martore, President and CEO of Gannett Co. Inc., stated that Cars.com is a strong company with tremendous upside that offers significant value to its growing customer base and will contribute considerably to the company's Digital business. The transaction did not impact Q3 FY14 results.

Reflecting on the quarter gone by, Ms. Martore said that the company has once again made great progress, both in the outstanding performance of its businesses and the continued transformation of the Gannett portfolio. As anticipated, she continued, Y-o-Y revenue comparisons for each of the company's business segments improved relative to Q2 comparisons.  Visit Investor-Edge and access the latest research on GCI at:

www.Investor-Edge.com/GCIEarningsCoverage

For the next quarter, the company expects total television revenues to exceed 115% for Q4 FY14 compared to the same quarter last year, based on current trends and including a full quarter of results for the former Belo and London stations in 2014.

Stock Performance 

On the day of the earnings release, October 20, 2014, Gannett Co. Inc.'s stock rallied, ending the session at $29.08, up 5.02%. The stock has witnessed both positive and negative movements since then, and is currently trading close to its post results closing price. On the last close, Wednesday, November 05, 2014, it finished at $30.59, 0.23% below its previous day's closing price, after vacillating between $30.41 and $31.15. A total of 1.66 million shares were traded, which was above its three months average volume of 2.30 million shares. Over the previous three trading sessions, the company's shares have fallen by 2.89%. However, the stock has gained 3.27% over the last one month and 3.41% from the beginning of 2014. Shares of Gannett Co. Inc. closed above their 200-day moving average. The stock's 50-day moving average of $30.90 is greater than its 200-day moving average of $29.77. Furthermore, the stock traded at a PE ratio of 12.87 and has a Relative Strength Index (RSI) of 51.96.

Sneak Peek to Corporate Insider Trading 

In the last one month, there were two insider transactions by two individuals. On October 22, 2014, David A. Payne, Chief Digital Officer at Gannett Co. Inc., sold 3,007 shares of the company at a price of $30.07 per share. And, on October 24, 2014, Maryam Banikarim, SVP and Chief Marketing Officer of Gannett Co. Inc., sold 2,438 shares at $31.43 per share. Complimentary in-depth research on GCI is available at:

www.Investor-Edge.com/GCIInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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