McClatchy (NYSE:MNI) Q4 Earnings Slip 42 Percent
Wednesday, February 09, 2022 1:35 PM

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Newspaper publisher McClatchy Co. (NYSE:MNI) reported fourth quarter 2010 total income including discontinuing operations of $14.9 million or $0.17 per share compared to $25.8 million or $0.30 per share in the fourth quarter of 2009. 

Revenues in the fourth quarter of 2010 were $369.9 million, down 5.9 percent compared to fourth quarter of 2009. Operating cash expenses declined $4.3 million or 1.7 percent. Operating cash flow was $120.9 million, down 13.6 percent compared to the fourth quarter of 2009.

Interest expense climbed to $43.4 million in the fourth quarter, up 77 percent from the same quarter of 2009.

Revenue from newsstand sales and subscriptions fell 3 percent. The full year 2010 revenues were down 6.5 percent to $1.4 billion compared to $1.5 billion in 2009. Advertising revenue was down 8.1 percent to $1 billion and the circulation revenue was $272.8 million, down 2 percent. 

Total income, including discontinuing business, was $54.1 million or $0.65 per share in 2010. Operating cash flow was $382.1 million, up 3 percent.
 
The publisher of The Sacramento (Calif) Bee, The Miami Herald and other newspapers earned $14.9 million, or 17 cents per share, in the quarter ended December 26, down from $25.8 million or 30 cents per share in the same quarter a year earlier.

The stock is trading at $4.50, down 10 percent. 
 

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