Gannett Comfortable With Full-Year Estimates - TheStreet

Gannett Comfortable With Full-Year Estimates

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Gannett

(GCI) - Get Report

said it was "comfortable" with full-year earnings expectations, but said it expects 2001 to be "a more challenging" period.

The publishing company, whose publications include

USA Today

, affirmed earnings expectations of $3.60 to $3.64 a share, excluding a gain from the sale of cable assets, compared with earnings of $3.15 a share in 1999. According to

First Call/Thomson Financial

, analysts expect 2000 earnings of $3.64 a share.

The company also said it expects to generate about $60 million to $65 million in Internet revenue in 2000 and sustain "a modest loss." In 2001, the company said it expects total Internet revenue to approach $100 million and that these activities may be profitable for the year.

Also today, rival publishers

Knight Ridder

(KRI)

and

New York Times

(NYT) - Get Report

said they saw 2000 earnings in line with analysts' expectations amid strong advertising revenue.

Knight Ridder said it expects advertising revenue to grow between 4% and 4.5% in 2001 while

New York Times said it expects advertising revenue growth for 2000 of 8.5% to 9.5%.

Dow Jones

(DJ)

gave a

different spin, saying that it expects earnings for the fourth quarter to fall short of analysts' expectations amid softening advertising demand.