Despite the company having made $0.73 per share for the 13 weeks ending 06/27/2010, it trades in the mid- to low-$13's because:
1) Even investors who fancy themselves "value" investors are peeking at last year's chart and seeing much lower GCI share prices. Yes, GCI has "already" tripled or quadrupled. So what? Unless one trades using charts and technical analysis, what is the relevance of last year's low share prices?
2) There is fear of a double-dip recession.
3) Gannett publishes newspapers. "Newspapers are dead."
"For the first six months of 2010, the Company’s long-term debt was reduced by $432 million, reflecting repayments of borrowings under the revolving credit agreements using cash flow from operations. At the end of the second quarter, the Company’s total long term debt was $2.6 billion. The Company’s senior leverage ratio was 2.10x as of June 27, 2010, which is substantially below the senior leverage ratio of 3.5x the Company is required to maintain under its revolving credit agreements and term loan agreement."