This is from the quarterly financial teleconference for media stock executives, led this morning by CEO Gracia Martore, and transcribed by Seeking Alpha. Here's the presentation. And here's the often more-illuminating question-and-answer portion.
Monday, January 30, 2012
12 comments:
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
Note: Only a member of this blog may post a comment.
Subscribe to:
Post Comments (Atom)
Political ads and Olympics are not going to save a tanking industry.
ReplyDeleteEnough with the promises and exciting initiatives. show us growth in revenue and earnings. stop laying off journalists.
DeleteI'm shocked at all of the non answers GCI provided on this call. It always appears that there's little preparation and lots of stumbling. This Paul person shouldn't even be there. Never came close to an answer even after being tossed some softballs. I'd sell this stock based on the senior level apparent lack of knowledge and understanding their core business.
ReplyDeleteAll these earnings mean is another round of furloughs is probably on it's way. I've been with this company for 7 years now and my pay has steadily gone in reverse. I feel like Mork from Ork only instead of aging backward, I'm earning backward. I was one of the lucky few who fell right on the line to have to furlough this 1st qtr. Being single and having to furlough is not a good combination. Now with a lousy 4th qtr, which will probably be followed by an announcement of huge corporate bonuses, all I have to say is HERE WE GO AGAIN.
ReplyDeleteCant believe how many questions from analysts they didnt answer. amazing
ReplyDeleteI haven't seen any of that free cash flow trickle down, have you?
ReplyDeleteOh, but it HAS trickled. From one of many reports today on Gannett's earnings:
ReplyDeleteThe McLean, Va.-based media and marketing company posted net income of $116.9 million, or 49 cents a share, compared with a year-earlier $174.1 million, or 72 cents.
The drop in net income was related to the disability-related retirement of CEO Craig Dubow in October that cost the company some $14.7 million, and facility consolidations in the U.S. and U.K., the largest of which involved the transfer of activities for The Cincinnati Enquirer.
Read more: http://www.foxbusiness.com/industries/2012/01/30/gannett-4q-profit-falls-but-beats-on-careerbuilder/?#ixzz1kzQK4sWg
6:18, why are you shocked by Gannett's non-answers? It's been standard operating procedure for many years.
ReplyDeleteSo the ghost of Craigy still strikes at the wallet of this company? What a legacy!!! Epic fail!
ReplyDeleteCraig cashes out, and his biggest legacy, his management team, flounders.Could there be a lousier board of directors?
ReplyDeleteI've read a couple dozen of these transcripts. What's striking is how infrequently the analysts ask tough questions -- and how frequently management simply doesn't answer directly.
ReplyDeleteAnd I've never seen an analyst call management on any of this, as a good reporter would. Not once.
Jim- You are right, they don't get aggressive with the questions. But they do seem to draw conclusions, often negative, with their analysis - which is the end result of their work. A good analyst is not just taking the company's word at face value... they are talking to customers, suppliers, etc., to get the real lowdown. But it does make you wonder why there isn't more straightforward questioning in these virtual press conferences. Seems to be a cultural difference between finance and journalism.
ReplyDelete