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  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Aug 5, 2010 12:24 AM Flag

    Second quarter report

     

    pmlljl, astral_tsar,

    (Too) much money I have been pouring into Gannett (GCI).

    http://sec.gov/Archives/edgar/data/39899/000095012310070517/c03110e10vq.htm#002

    market cap: $3.2 billion

    13 weeks ending 06/27/2010:

    operating revenues: $1,365,143,000
    operating income: $272,609,000
    income before income taxes: $234,988,000
    income from continuing operations: $185,588,000
    income from continuing operations attributable to Gannett: $175,165,000

    26 weeks ending 06/27/2010:
    net cash flow from operating activities: $441,419,000

    The dividend has been cut to 4 cents per share per quarter, but I have hope that it will get back to 40 cents if I am patient/stubborn.

    http://finance.yahoo.com/q/hp?s=GCI&a=06&b=1&c=1985&d=07&e=5&f=2010&g=v

    If you peek at the balance sheet, here is a consoling quotation:

    "The Company’s interest expense for the second quarter was $42 million and $86 million year-to-date, down 4% and 8% respectively. Total average outstanding debt for the second quarter was $2.8 billion in 2010 and $4.0 billion in 2009. For the year-to-date periods of 2010 and 2009, total average outstanding debt was $2.9 billion and $3.9 billion, respectively. The weighted average interest rate for total outstanding debt was 5.67% for the second quarter of 2010 compared to 4.13% last year and 5.53% year-to-date compared to 4.41% last year. Debt was reduced by $171 million during the quarter and $432 million year-to-date."

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    • pj:

      I wish you luck with Gannett, but it is not for me. I have taken the pledge to avoid companies that have a large amount of intangible assets. I admit that they can work out but I do not know how to judge them. As warren Buffett might say they are out of my circle of competence.

 
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