They're forecasting earnings per share of 57 cents, down 6.6% from 61 cents a year ago, according to a survey by Thomson Financial. The eight analysts following GCI expect revenue of $1.33 billion, down 2.6% from $1.37 billion a year ago.
Indeed, for the rest of the year, analysts expect EPS and revenue to continue dropping. For all of 2011, they forecast EPS of $2.17, down 11% from $2.44 last year. Annual revenue is expected to come in at $5.3 billion vs. $5.44 billion.
Other publishers, including McClatchy and the New York Times Co., also are expected to report very weak second-quarter figures.
During GCI's first quarter, overall revenue fell 3.7%, to $1.25 billion from $1.3 billion a year before. EPS plunged 23%, to 37 cents vs. 48 cents.
That call will be webcast from Corporate's site, and is open to the general public on a listen-only basis; details here. I plan to live-blog the conference again.
Quarterly earnings reports sometimes also are occasions for other, non-financial news, such as management changes.
GCI's stock fell 6% from the first quarter to the end of the second quarter. The widely watched S&P 500 index, a broad measure of overall market activity, was basically unchanged. Still, GCI is up 6.4% from a year ago, while the S&P rose a more robust 28%.
The company has recently taken steps to shore up profits in the current quarter: It laid off 700 U.S. newspaper workers last month, and imposed unpaid furloughs on certain highly paid employees.
U.S. newspapers chief Bob Dickey said he expected more newspaper layoffs this year through consolidations such as the five News Design Studios, which will produce pages for most of the company's 80 community dailies. His remarks, the day after announcing the 700 layoffs, have led some Gannett Bloggers to worry that another, broad job reduction is in the works.
Related: here is GCI's first-quarter financial results announcement.