This Week
  • ROC the Future gives update on milestones for local education system.

  • The Greater Rochester Awards honorees are profiled.

  • CEO David Boyce has Tompkins Insurance Agencies on a growth path.

  • Aware of challenges, private schools work to build a sustainable future.

  • Mech Tech HVAC CEO Edward Burns expects the firm to log solid growth in 2014.

  • Owner of U.S. Ceiling Corp. uses digital estimation to save time and stay competitive.

GateHouse Media posts loss for second quarter

Rochester Business Journal
August 2, 2013

GateHouse Media Inc. stock remained at 7 cents a share as of midday Friday after the Perinton-based print and online media company reported an operating loss of $13.2 million in the second quarter.

The loss, at 23 cents a basic and diluted share, compares with a loss of $2.3 million, or 5 cents a share, in the second quarter 2012.

The company reported a net loss of $14.1 million, or 24 cents a share, including a $946,000 charge for discontinued operations, compared with a net loss of $2.5 million and 5 cents a year ago.

“We saw slightly improved revenue trends in almost every revenue category during the second quarter as compared to the first quarter,” CEO Michael Reed said in a statement released Thursday after the markets closed.

Quarterly revenues totaled $119.6 million, down from $126 million in the second quarter 2012 but an increase from $111.1 million in the first quarter.

“We are also seeing some further improvement in July. However, we remain very cautious on our near-term outlook as print advertising revenue, despite the improved trend, continues to decline in the high single-digit range, and still represents the largest revenue category within our business,”  Reed said.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google