Pulitzer Sees First-Quarter Earnings Shortfall
Pulitzer said Monday it expects first-quarter earnings will come in below previous forecasts because of weak retail and classified advertising demand.
The newspaper also announced the sale of the Troy Daily News in Troy, Ohio, and the Miami Valley Weekly to Brown Publishing. Terms were not disclosed. Pulitzer said it would take a chart to first-quarter earnings of 8 cents to 10 cents per share resulting from the sale of the Troy newspaper and the January sale of a St. Louis Internet service provider business.
Pulitzer said it now expects first-quarter earnings of 16 cents to 21 cents a share. A single analyst who covers the company was expecting earnings of 32 cents a share, according to Thomson Financial/First Call.Shares of Pulitzer fell 91 cents, or 1.6%, to $54.49 in recent trading on the New York Stock Exchange.
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