GateHouse Media Cuts Loss, Revenue Slides In Q2
GateHouse Media Inc., the Fairport, N.Y.-based publishing company that owns the MetroWest Daily News and several other publications in Central Massachusetts, said it lost $5.2 million in the second quarter as revenue slipped nearly 5 percent to $144.2 million.
For the same period a year ago, the company lost $496 million on revenue of $151 million.
The company saw advertising revenue decline 4.4 percent as online revenue increased 17.8 percent.
Operating costs were trimmed by $10.3 million from the prior year to $117.9 million. Compensation costs were cut by 7.2 percent and newsprint expenses were down 14.6 percent due to lower consumption. Operating income grew 6.2 percent to $12.8 million.
The company finished the quarter with $28 million in cash and equivalents compared to $10.9 million a year earlier.
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