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Gannett 3Q net income lower, matches Street views

- Associated Press - Monday, October 17, 2011

MCLEAN, VA. (AP) - Gannett, the publisher of USA Today and 81 other daily newspapers, says its third-quarter net income declined slightly as the company kept expenses in line with a drop in revenue. The results met Wall Street's expectations.

Gannett Co. said Monday that it earned $99.8 million, or 41 cents per share. That's down nearly 2 percent from $101 million, or 42 cents per share, a year earlier.

Excluding special items, such as restructuring charges related to job cuts, Gannett earned 44 cents per share. That matched analysts' expectations.

The company says its revenue fell nearly 4 percent to $1.27 billion, matching expectations from analysts polled by FactSet. It was $1.31 billion a year ago.

Gannett named Gracia Martore as CEO this month after Craig Dubow resigned for health reasons.

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