You can also read Corporate's transcript.
To listen to a replay of the one-hour conference call, go here.
Saturday, October 16, 2010
Earnings | Here are Q3 conference call transcripts
CEO Craig Dubow and President and Chief Operating Officer Gracia Martore spoke to Wall Street stock analysts on Friday, discussing that morning's release of the company's third-quarter earnings statement. For those who missed it, Seeking Alpha has prepared a transcript. The tabs at the top of the first page guide you first to the executives' presentation, followed by the especially interesting Q&A session. Also, here's a list of the analysts who participated.
6 comments:
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It is amazing how arrogant they are on the call. They are talking as if they are trading at a 52 week high in their stock. They should ashamed of their performance. Every stock has gone up over the past year and Gannett has done nothing.
ReplyDeleteWhat ever happened to executives losing their jobs when they do NOT increase shareholder value? How many people on this blog (or in the Gannett company, or an investor), would say "yes, Gannett has created value for me over the past 12 months?"
This entire management team needs to go and retire. They are full of hot air and all have a chip on their shoulders.
Lots of shucking and jiving in that conference. I did note the overall loss in circulation which responds to some postings on this blog recently: "For the quarter total daily circulation, which includes evening, was down about 4.6% in the quarter and Sunday was down 3.3%." USAT was off 1.7 percent.
ReplyDeleteThat is a sharp dropoff over the summer months that needs to be explained. Some of it probably involves summer vacation cancellations, but it is still quite large.
It would suggest to me the ABC report later this month will not be good news.
This conference shows corporate is counting on the economy continuing to improve in Q4. But what if economists are right, and the economy actually continues the current pattern and slows down?
ReplyDeleteSome posters here say there are other cuts that can be made at newspapers, but I don't see them. We are already running very thin papers content-wise, and that won't change until the economy booms again and papers can rehire. Eventually, I believe readers will reach the conclusion that the paper is no longer worth reading, and cancel subscriptions. This is a very dangerous period we are heading into.
It might have been helpful if Dubow gave some indication of where Gannett's paywall strategy was going.
ReplyDeleteHe said in effect that corporate was pleased with the results in the three test markets. But how pleased? He said the company had learned things from its testing. What had it learned? A little more openess would have been appreciated by the shareholders.
And don't give me that BS about a need for corporate secrecy! USA Today is getting whipped by Murdoch and the Wall St. Journal, and I've seen Websites of other Murdoch papers that are far ahead of anything Gannett has.
It's time for Gannett's so-called management to give shareholders a view of what the heck is coming up. Or don't Dubow and Martore know?
12:13 It didn't surprise me in the least to hear that people who pay subscriptions to read online are indeed reading the paper online with some intensity. Geez, what did they expect? That people would pay money to read the headlines only.
ReplyDeleteWhat a crock. How many times is Craig going to mention what a great job Cough Loogie is doing with the CP division? And $7 million in severance related costs, mostly tied to USA Today? There have to be substantial payouts going to a handful of managers being forced into early retirement. Crazy.
ReplyDelete