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gannett 1Qtranscript04
- Gannett reported earnings of $1 per share for the first quarter of 2004, above the forecast of 99 cents. Revenue increased 11.4% year-over-year for the quarter. - Advertising revenues rose across newspaper, television, and online segments. National and classified advertising saw particularly strong growth. - Costs increased due to factors such as healthcare costs, commissions on higher sales, and the mix of recent acquisitions. Operating margins may be slightly down for newspapers in 2004 compared to 2003. - The outlook for the second quarter is positive with pacings in the high-single digits, though volatility remains. Gannett expects continued growth over 2003 assuming no major external factors.
