McLean, Va. - Gannett (NYSE: GCI), the owner of USA Today and numerous other media properties, on Monday reported a 51% jump in first-quarter profits.Net income for the period was $117.2 million, or $0.50 a share, topping consensus analyst estimates by $0.09 a share, according to a survey by Thomson Reuters.
hairman and CEO Craig Dubow attributed the improvement to increased ad demand in the U.S. and U.K., as well as corporate cost reductions and lower newsprint expenses."We are well positioned for continued growth as the economy improves and we are extremely encouraged by the revenue trends and our ability to create and capture operating leverage," said Dubow.
